Grayscale and BlackRock top Bitcoin ETF trading volume | CoinDesk JAPAN

The Bitcoin ETF, which has been hotly anticipated for years, was finally approved in the United States on the 10th and began trading on the 11th.

According to data posted on X (formerly Twitter) by Bloomberg Intelligence analyst James Seyffart, the Grayscale Bitcoin Trust, which has existed as a fund for several years: GBTC) had the highest trading volume, at $2.3 billion (approximately 333.5 billion yen, equivalent to 145 yen to the dollar).

BlackRock’s iShares Bitcoin Trust (IBIT), the world’s largest asset management company, ranks second with $1 billion, followed by Fidelity Wise Origin Bitcoin Fund. :FBTC) was in third place with $712 million.

Total trading volume exceeded $4.6 billion.

In a post on X, Bloomberg analyst Eric Balchunas noted that Grayscale’s GBTC led the way, likely due to existing investors selling GBTC. GBTC, the world’s largest Bitcoin investment fund, was introduced in 2013 and was converted from a closed-end fund to an ETF following regulatory approval on the 10th. For the 10 newly launched ETFs, trading volume is driven by buyers, Balciunas explained.

By comparison, BITO, ProShares’ futures-based Bitcoin ETF, racked up $1 billion in trading volume on its first day of trading in October 2021. Balciunas noted that the $2.1 billion in first-day trading volume for a newly launched individual ETF was the largest ever.

Bitcoin ETFs that allow direct holdings in the underlying asset (unlike Bitcoin futures ETFs like BITO, which was approved in 2021) are gaining momentum in the US following a decade-long effort to gain regulatory approval. It has been.

As the ETF trading frenzy began, Bitcoin (BTC) breached $49,000 (approximately 7,105,000 yen), setting a new two-year high on the day, before selling off to $46,000. It fell to

｜Translation and editing: Rinan Hayashi
｜Image: Dallas Reedy/Unsplash
｜Original text: Grayscale, BlackRock Top Bitcoin ETF Volume Ranking as Products Debut