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GBTC Trading Volume Surges 400% After BlackRock Files for Bitcoin ETF

June 21 (Cointime) - The daily trading volume of Grayscale's Bitcoin Investment Trust (GBTC) has soared from $16.1 million to nearly $80 million following asset management firm BlackRock's filing for a spot bitcoin ETF. The volume has spiked about 400% in just five days after the filing on June 14.

Rebecca Stevens, a research analyst at The Block Research, believes that if BlackRock is successful in its bid for a spot bitcoin ETF, it could pave the way for Grayscale to get its non-redeemable trust shares changed as well. Grayscale's proposal to convert GBTC into a spot bitcoin ETF was rejected by the Securities and Exchange Commission on June 29, 2022. The firm subsequently sued the SEC on the same day in an attempt to challenge the decision.

Bitcoin $99,023.44

+0.88%

Grayscale BlackRock

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GBTC Trading Volume Surges 400% After BlackRock Files for Bitcoin ETF

All Comments

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The final value of the US one-year inflation rate in November is expected to be 2.6%, the expected value is 2.7%, and the previous value is 2.60%

U.S. stocks open, most crypto stocks open lower

BTC breaks through $98,500

Cardano's ADA Hits Highest Level Since May 2022 as Bitcoin Nears $100K and Capital Rotates into Alternative Cryptocurrencies

BCH breaks through $500

Bitwise Bitcoin ETF's holdings exceed $4 billion

Cointime July 27th News Express

As of July 25, BlackRock IBIT held more than 338,000 bitcoins, an increase of more than 1,092 bitcoins from the previous day.

Cointime July 20th News Express

BlackRock IBIT saw a total net inflow of $705 million this week

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