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It Is ON! Bitcoin ETFs Debut on Cboe, NYSE Arca, and Nasdaq

ETF launch marks the dawn of a new era in cryptocurrency trading

The cryptocurrency landscape is witnessing a transformative moment with the introduction of Bitcoin exchange-traded funds (ETFs) on prominent exchanges like Cboe, NYSE Arca, and Nasdaq. This historic event, spearheaded by the U.S. Securities and Exchange Commission's approval on January 10, has set the stage for a new wave of investment opportunities in the digital currency domain. 

Among the notable launches, BlackRock's Bitcoin ETF has showcased remarkable pre-market performance, surging approximately 22% and trading at $28.64, signaling investor enthusiasm in this novel asset class.

A wide array of Bitcoin ETFs hits the market

Diversification marks the latest phase in cryptocurrency trading as various asset managers unveil their Bitcoin ETFs, each bringing unique offerings to the table. The ARK 21Shares Bitcoin ETF (ticker ARKB) commenced trading on the Cboe BZX Exchange at $50.18. In close competition, Invesco Galaxy (BTCO) and WisdomTree (BTCW) listed their ETFs at $49.59 and $52.13 respectively. 

Notably, Fidelity's entry (FBTC) opened at $44.40, while Franklin Temple's ETF (​​EZBC) started at $28.48. Although VanEck's HODL ETF was pending live status at publication, its anticipated opening price stood at $54.92.

Regulatory developments and market dynamics

Cboe BZX Exchange initially approved Bitcoin ETF listings ahead of formal SEC endorsement. However, in an unforeseen twist, the exchange retracted its approval, only for the SEC to later authorize the trading of spot BTC ETFs from 11 asset managers on Nasdaq, Cboe BZX, and NYSE Arca. 

This regulatory nod has been crucial, particularly for Grayscale Investments’ ETF, which opened at $42.25 under GBTC on the NYSE Arca and rose to $42.97. Meanwhile, on Nasdaq, Valkyrie Bitcoin Fund (BRRR) experienced a pre-market high before settling at $14.10, underpinning the dynamic and fluid nature of the crypto ETF market.

Checkɱate ⚡☢️️ (@_Checkmatey_) January 10, 2024:

“Live look at the world selling the #Bitcoin ETF news.”