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12 Jan 2024

US Bitcoin ETFs Surge with $4bn First-Day Trading Volume

The first batch of 10 US-based Bitcoin ETFs witnessed a massive [$4bn trading volume](https://www.nytimes.com/2024/01/11/technology/bitcoin-etf-trading.html) on their first day, notably following SEC approvals. Grayscale's Bitcoin Trust transformation into an ETF represented approximately $2bn of this volume, with half occurring within just 90 minutes of market opening.