News

Grayscale Dominates as Spot Bitcoin ETFs Debut with Over $4 Billion Trading

Spot bitcoin ETFs hit over $4 billion on their debut, led by Grayscale, BlackRock, and Fidelity, marking a major shift in crypto investment.
Grayscale Dominates as Spot Bitcoin ETFs Debut with Over $4 Billion Trading

On their first day of trading, the newly approved spot bitcoin ETFs have significantly impacted the market. Trading volumes for these 11 financial instruments have impressively crossed the $4 billion mark. This development marks a pivotal moment in integrating cryptocurrency with traditional financial markets.

Advertisement

Leading the Charge: Grayscale, BlackRock, and Fidelity

Grayscale, a major player in the crypto asset management space, has emerged at the forefront, with its converted ETF recording $1.9 billion in trades. BlackRock and Fidelity are not far behind, having chalked up $942 million and $628 million, respectively. These figures reflect a keen investor interest, particularly in newly launched funds from BlackRock and Fidelity, representing a fresh influx of capital.

Concurrent with these trading activities, Bitcoin itself has experienced a modest uptick. The cryptocurrency traded at $46,851 at press time, marking a 1.3% increase over the past 24 hours. This price movement aligns with the heightened activity surrounding the ETF launches.

Advertisement

SEC’s Green Light on spot bitcoin ETF

The SEC’s decision to approve these 11 spot bitcoin ETFs is being hailed as a transformative moment for the crypto sector. Such a move by a key regulatory body adds a layer of credibility and accessibility to cryptocurrency investments. Standard Chartered Bank’s projection suggests these ETFs could attract between $50 billion and $100 billion in 2024.

Advertisement

Vanguard’s Conservative Stance

In contrast, Vanguard, a major asset manager, has opted out of this new venture, as reported by Coingape. Citing these instruments’ speculative and unregulated nature, Vanguard remains aligned with its long-term, traditional investing philosophy. This decision has sparked a conversation among investors, with some moving their accounts to more crypto-friendly institutions like Fidelity.

Read Also: Former Customers Demand Change in Repayment Method

Advertisement

Share
Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Trump Tariffs: Secretary Bessent Declares ‘Fantastic’ Trump–Xi Talks, Bitcoin Breaks $113,000

Bitcoin (BTC) has climbed above $113,000 as optimism grew ahead of President Donald Trump’s meeting…

October 26, 2025
  • News

Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?

Bitcoin traders are turning their attention to this week’s Federal Open Market Committee (FOMC) meeting.…

October 26, 2025
  • News

White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC

White House crypto czar David Sacks has shown his support for Donald Trump's nomination of…

October 25, 2025
  • News

Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role

Crypto firm Ripple has revealed that it is exploring new ways to use XRP within…

October 25, 2025
  • News

Kyrgyzstan Adds Binance Coin (BNB) to National Crypto Reserve, CZ Confirms

Kyrgyzstan has made a significant move in the adoption of digital finance. It has now…

October 25, 2025
  • News

Ripple-Backed Evernorth Grows XRP Treasury to $1B Ahead of Nasdaq Listing

Ripple-backed Evernorth's XRP treasury has grown to $1 billion just days after the company announced…

October 25, 2025