“I am happy to confirm that the Grayscale team has received necessary regulatory approvals to uplist GBTC to NYSE Arca, and we will share a press release with additional information shortly” ~ Grayscale spokesperson
Here's the #Bitcoin ETF Cointucky Derby data via trading volume on day 1 (more volume will continue for a little while).
Total Volume was over $4.6 Billion with $GBTC about half of it. BlackRock & Fidelity went 1 & 2 absent GBTC.
Since the Fed started raising interest rates in March 2022, money market funds have seen massive inflows.
Total assets held in money market fund went from $4.5 trillion to $6 trillion in 2 years, a 33% increase.
Now, the Fed is expected to begin cutting interest rates.
With
Pushing $10B in the first few days is an impressive start.
I think we’ll see the ETF providing a level of solid buy pressure for the coming years ahead. $BTC
We are into our 7th week of attempting to crack this resistance level. $BTC has done surprisingly well to not fall away too far each time it gets rejected.
We just witnessed history:
It's only been half of the trading day these 9 #Bitcoin ETFs have already broken their DAILY trading volume record.
There's been a total of $2.6 BILLION in volume today alone.
If current volume persists, this puts us on track for the first day with