"Grayscale Dominates as Bitcoin ETFs Debut on U.S. Exchanges"

The Securities and Exchange Commission approved 11 spot bitcoin ETF applications, leading to a surge in the cryptocurrency industry. Grayscale Bitcoin Trust and Hashdex Bitcoin ETF experienced early gains before paring them, while BlackRock and Fidelity led trading volume among the newly-listed spot bitcoin ETFs. Bitcoin turned volatile, reaching as high as $49,000 before reversing its advance. Various issuers listed their bitcoin ETFs on different exchanges, with over $3.5 billion worth of shares traded. Despite a short-term decline in crypto-related stocks, experts anticipate significant price movement as institutional assets allocate to ETFs.