On Wednesday, January 10, the US Securities and Exchange Commission (SEC) finally approved the launch of spot Bitcoin ETFs, representing a remarkable event in US trading history. So far, market data on these investment funds have confirmed theories of increased institutional demand for Bitcoin, with over $800 million in total net inflows and $3.6 billion in trading volume recorded across the first two days of trading. Although these inflows are yet to be reflected in BTC’s price, as the premier cryptocurrency dipped by 2% in the last week, the spot Bitcoin ETFs have certainly kicked off with a blast which is indicative of potential gains for the world’s largest asset and the general crypto market. Related Reading: Bitcoin ETF Approval Triggers $1.2 Billion Trading Volume And New Highs For BTC Price Spot Bitcoin ETFs Attract Over $1.4 Billion In Two Days – Bloomberg Data In an X post on January 13, Bloomberg ETF analyst Eric Balchunas shared some insight on the impressive performance of the spot Bitcoin ETFs in their debut trading week. Balchunas noted that of the 11 approved spot BTC ETFs, nine ..
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