BlackRock’s Bitcoin spot ETF, known as IBIT, saw a remarkable trading volume at its debut, with $7.5 million shares traded. The industry’s enthusiasm was further evidenced by the substantial inflow of capital from pension funds and insurance companies, which contributed to a striking $500 million on the first day of trading.
Bitcoin itself reacted to the news, with its price momentarily spiking to $49,000, before settling at a slightly lower figure of $46,000. This movement reflects the market’s anticipation of supply pressures following the ETFs’ launch.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Source: Cryptocurrency - investing.com
