Bitcoin Price Soars as Bitcoin Spot ETF’s Starts Trading
Bitcoin Price Surges 7.6% to $48,517 Following US Approval of First Spot Bitcoin ETFs, Attracting Billions in Investments.
Bitcoin's price jumped 7.6% to $48,517 after the US approved its first spot Bitcoin ETFs. Popular finance platforms like Yahoo Finance highlighted trending tickers like BlackRock's IBIT and Grayscale's GBTC.
Bloomberg Intelligence analyst Eric Balchunas commented on the resilience of ETFs, sharing a chart of Europe's spot Bitcoin ETFs. He expects similar trends in the U.S. market.
Steven McClurg of Valkyrie anticipates significant investor interest in their ETF, expecting between $200 million to $400 million in investments. He and other experts forecast a substantial inflow of funds into these new products, with predictions ranging from $1 billion in the first few days to $72 billion within five years.
According to data reports, the transaction volume in Bitcoin Spot ETFs allegedly exceeded 2.3 billion dollars within minutes.
