Bitcoin ETFs Begin Trading: Tracking The Price Action

The Securities and Exchange Commission approved rule changes this week clearing the way for several Bitcoin BTC/USD ETFs to begin trading. The newly approved ETFs are off to a hot start Thursday morning as the price of Bitcoin surges.

What To Know: The SEC approved 11 bitcoin ETFs for trading late Wednesday. The long-awaited approval comes after the SEC delayed its decision multiple times, asking for changes to be made to applications. The rally in the crypto space in anticipation of approval created expectations for a selloff on the actual news, but the crypto market continues to trend higher.

Here’s a look at early price action of all of the spot bitcoin ETFs that began trading on Thursday:

• ARK 21Shares Bitcoin ETF ARKB has a daily range of $48.25 to $52.22. It was hovering around $50.85 at last check.
• Bitwise Bitcoin ETF BITB was up 10.89% at $27.71.
• iShares Bitcoin Trust IBIT was up 3.76% at $29.01.
• Fidelity Wise Origin Bitcoin Fund FBTC has a daily range of $41.99 to $50.70. It was trading around $43.71 at last check.
• Franklin Bitcoin ETF EZBC has a daily range of $27.91 to $28.83. It was trading at $28.64 at publication time.
• Grayscale Bitcoin Trust GBTC was up 5.39% at $42.70.
• Hashdex Bitcoin Futures ETF DEFI was up 8.41% at $59.85.
• Invesco Galaxy Bitcoin ETF BTCO has a daily range of $47.66 to $50.09. It was trading at $49.02 at the time of writing.
• Valkyrie Bitcoin Fund BRRR has a daily range of $13.60 to $14.90. It was trading at $14.10 at the time of publication.
• VanEck Bitcoin Trust HODL has a daily range of $55 to $56.42. It was trading at $55.75 at last check.
• WisdomTree Bitcoin Fund BTCW has a daily range of $50.81 to $53.07. It was trading $52.52 at the time of publication.

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Photo: Miloslav Hamřík from Pixabay.