First Bitcoin ETF trades $1.5Billion, discount on GBTC mirrors the $69,000 Bitcoin price

30/10/2023

Data from sources like Bloomberg indicate that Bitcoin exchange-traded funds (ETFs) are seeing near-record levels of weekly inflows. Bloomberg's ETF analysts also point out that at least two well-known products have shown "significant" trading volume. This includes ProShares' Bitcoin Strategy ETF (BITO), the first futures-based ETF to be approved in the United States in 2021.

The implications of a potential approval for a Bitcoin spot ETF in the United States have not only affected the price trend of BTC but have also benefited the surrounding ecosystem.

Resource: https://cointelegraph.com/news/first-bitcoin-etf-trades-gbtc-discount-69k-btc-price