NEW YORK, January 11, 2024 – On Thursday, the debut of bitcoin exchange-traded funds (ETFs) on the New York Stock Exchange saw an impressive $1 billion in trading volume within just the first hour. Investors eagerly bought into 11 newly listed ETFs on the NYSE Arca platform.

In that initial hour, Grayscale Bitcoin Trust led the charge with $456 million in ETF trades, followed by iShares Bitcoin Trust at $388 million, and Fidelity Wise Origin Bitcoin Trust at $226 million, according to Yahoo Finance. Together, these top three ETFs accounted for $1.07 billion in transactions, while other ETFs contributed around $135 million to the total.

Grayscale's GBTC ETF reached an early high of $43.35, then fell to a low of $40.20 before recovering to $40.69 by the close of trading. In after-hours trading, it climbed to $40.88. Over 56 million shares of GBTC were traded.

The SEC's approval on Wednesday of these 11 bitcoin ETFs drew mixed reactions from cryptocurrency and financial experts.