Coinbry

  • Market Cap: $2,520,039,623,956.63
  • 24h Vol: $71,988,755,025.45
  • BTC Dominance: 50.99%
Initial Bitcoin ETF Sees $1.5B in Trades as GBTC 'Discount' Mirrors $69K BTC Price

Initial Bitcoin ETF Sees $1.5B in Trades as GBTC ‘Discount’ Mirrors $69K BTC Price

ProShares and Grayscale are leading the surge in Bitcoin investment products, with increased demand for a spot Bitcoin ETF. Bitcoin institutional investment vehicles, including ETFs, are experiencing record weekly inflows as excitement over potential regulatory changes in the United States grows. The ProShares Bitcoin Strategy ETF (BITO) and the Grayscale Bitcoin Trust (GBTC) have seen notable trading volume, with BITO trading $1.7 billion and GBTC trading $800 million in the past week. This increased activity in Bitcoin investment products suggests a strong demand for a spot Bitcoin ETF. The GBTC discount to the Bitcoin spot price has reached its lowest level since November 2021, indicating growing confidence in the market. However, investment management firm ARK Invest has reduced its GBTC holdings despite the share price gains. It is important to note that this article does not provide investment advice and readers should conduct their own research before making any investment decisions.

Summary:

– ProShares and Grayscale are leading the surge in Bitcoin investment products.

– Bitcoin institutional investment vehicles are experiencing record weekly inflows.

– The ProShares Bitcoin Strategy ETF (BITO) and the Grayscale Bitcoin Trust (GBTC) have seen notable trading volume.

– The GBTC discount to the Bitcoin spot price has reached its lowest level since November 2021.

– Investment management firm ARK Invest has reduced its GBTC holdings despite share price gains.

Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.