Bitcoin’s Value Approaches $49,000, Spot ETF Trading Volume at Record High

By: Isha Das

Summary:

Bitcoin's value rocketed past the $49,000 mark, a significant 4% increase within just 24 hours. This surge aligns with a shift in the global finance landscape that's welcomed digital currencies into a more prominent role. The volume of spot ETFs shot up, reportedly peaking at $2.3 billion during the initial 20 minutes of trading.

There's some discrepancy among analysts about the exact figures, with some suggesting lower numbers, around a still notable $1.8 billion. Regardless, many are eagerly waiting for the official tally to confirm whether a single ETF launch has broken first-day records.

In related news, spot Bitcoin ETFs have begun trading on Wall Street – a historic event long awaited by many in the cryptocurrency community. The BlackRock spot ETF (IBIT) has traded upwards of 10 million shares, all within the first 20 minutes of trading, and each share is currently valued at $29.