Bitcoin at $46,050 in morning trade, down 0.91% over 24 hours despite US ETF push
Bitcoin's current dominance is 51.14 percent, reflecting a decrease of 0.15 percent within the day. The decline comes despite the coin touching $49,012 (up 5 percent) on January 11 after Bitcoin exchange-traded funds (ETFs) were approved by the US SEC and began trading.
Also Read | US Bitcoin ETFs garnered $4.6 billion in trading volume after landmark SEC approval, competition for market share fierce This decision by US Securities allows 11 investment firms, including BlackRock, Fidelity, and Franklin Templeton to list Bitcoin-based ETFs on major US exchanges, including Nasdaq and the New York Stock Exchange. The US-listed bitcoin ETFs saw substantial trading activity, with $4.6 billion worth of shares changing hands by Thursday afternoon, according to LSEG data.
Notably, Grayscale, BlackRock, and Fidelity dominated trading volumes, the data showed. This action was expected to inject fresh vitality into Bitcoin and the broader cryptocurrency sector, which has grappled with falling token values, unsuccessful ventures, and the collapse of exchanges since reaching its zenith in November 2021.
Track | Share Market Live Updates here The daily trading volume for Bitcoin on cryptocurrency exchanges surged to $52 billion, marking the highest level since March 21 of the previous year in New York, as of 7:15 am on Thursday, according to data compiled by CoinGecko. Bitcoin trading surged to an almost 10-month peak as investors eagerly anticipated the opening bell on Wall Street.
This moment, marked the widespread availability of the United States' inaugural exchange-traded funds dedicated to direct investments in the largest cryptocurrency, according to a report by Bloomberg. The all-time high for Bitcoin occurred on November 10,
. Read more on livemint.com
