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Bitcoin ETFs Debut with Impressive Trading Volumes, Injective Rolls out Volan Upgrade

Jan 11, 2024
Author
Tom Couture
Tom Couture AC
Market Update At long last, all eleven spot Bitcoin ETF applications have been approved! They all began trading this morning, and trading volumes have been impressive thus far. According to Bloomberg Senior Analyst Eric Balchunas, Grayscale and Blackrock are leading the pack, accounting for $1.7 billion in trading volume out of the $2.3 billion total (not including BITO). Investors will be eyeing ETF inflows, which will be calculated once share counts are disclosed after market close. Despite the impressive trading volumes, $BTC (-1.47%) has dropped into the $45k’s after briefly surging up to $49k. $ETH (-0.34%) is showing relative strength, holding near $2,570 after nearly reaching $2,700. Traditional equity indices are also falling today, fueled by December CPI coming in higher than expected, causing investors to reprice potential March and May rate cuts. The SPY and QQQ have both decreased by about 0.80% in today’s trading.Figure: Bitcoin ETF Trading VolumesSource: Eric Balchunas (Twitter), as of 11:16 AM ESTCosmos-based layer-1 blockchain Injective ($INJ) has released its Volan upgrade, integrating a new software module focusing on real-world assets. The upgrade aims to enable access to various structured products for institutional and individual investors. Some produc

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