Bitcoin ETFs Begin Trading: Tracking The Price Action
Portfolio Pulse from Adam Eckert
The SEC has approved 11 Bitcoin ETFs for trading, leading to a surge in Bitcoin's price and a strong start for the ETFs on their first trading day. Despite expectations of a sell-off following the approval, the crypto market continues to trend higher. The ETFs, including ARKB, BITB, IBIT, FBTC, EZBC, GBTC, DEFI, BTCO, BRRR, HODL, and BTCW, all showed positive early price action.
January 11, 2024 | 3:58 pm
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POSITIVE IMPACT
ARK 21Shares Bitcoin ETF started trading with a daily range of $48.25 to $52.22, last checked around $50.85.
The positive start for ARKB on its first trading day, coupled with the overall surge in Bitcoin prices, suggests a bullish short-term impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Bitwise Bitcoin ETF saw a significant increase, up 10.89% at $27.71.
BITB's substantial rise on its first day of trading indicates strong investor interest, likely leading to a positive short-term price impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Valkyrie Bitcoin Fund had a daily range of $13.60 to $14.90, trading at $14.10 at publication.
BRRR's price action on its first trading day indicates a strong start, likely to have a positive short-term impact on its price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Invesco Galaxy Bitcoin ETF traded between $47.66 to $50.09, at $49.02 at the time of writing.
BTCO's trading activity on its first day suggests positive investor sentiment, which could positively influence its short-term price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
WisdomTree Bitcoin Fund traded between $50.81 to $53.07, at $52.52 at the time of publication.
BTCW's positive early price action on its debut day suggests bullish sentiment, likely to positively affect its short-term price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Hashdex Bitcoin Futures ETF was up 8.41% at $59.85.
DEFI's significant uptick on its first day suggests a bullish outlook, potentially leading to further short-term gains.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Franklin Bitcoin ETF had a daily range of $27.91 to $28.83, trading at $28.64 at publication.
EZBC's steady trading range indicates a positive market reception, likely leading to an upward short-term price trend.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Fidelity Wise Origin Bitcoin Fund traded between $41.99 to $50.70, last seen at $43.71.
FBTC's trading range on its debut suggests investor optimism, which could translate to a positive short-term price movement.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Grayscale Bitcoin Trust was up 5.39% at $42.70.
GBTC's increase is indicative of strong market interest, which is expected to have a positive short-term impact on its price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
VanEck Bitcoin Trust had a daily range of $55 to $56.42, last seen at $55.75.
HODL's initial trading range suggests a positive market response, which could lead to an upward short-term price trajectory.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
iShares Bitcoin Trust increased by 3.76%, trading at $29.01.
IBIT's rise reflects the positive sentiment in the crypto ETF market, suggesting a favorable short-term impact on its price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90