# Bitcoin's Big Day

*Author: Bankless*
*Published: Jan 11, 2024*
*Source: https://www.bankless.com/es/bitcoins-big-day*

---

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/01/Group-611--1-.png)](https://www.bankless.com/sponsor/kraken-1682978636?ref=the-day-after-the-bitcoin-etf&email=true)

  

     Bitcoin's Big Day
  
  

  
  Published on Jan 11, 2024

[
  
  View in Browser

](https://bankless.com/read/briefs)
 

---
[**Sponsor: Kraken**](https://www.bankless.com/sponsor/kraken-1682978636?ref=the-day-after-the-bitcoin-etf&email=true) — Sign up for an account and see what crypto can be. 

[Sign up for Kraken](https://www.bankless.com/sponsor/kraken-1682978636?ref=the-day-after-the-bitcoin-etf&email=true)

.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
   ETFs Begin Trading
  
  

  

 

![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/01/Group-14--9-.png)- ⚖️ **ETF volumes rip, BTC price doesn't.** After a disastrous approval process, 11 spot BTC ETFs went live on Thursday. Volumes [broke records](https://twitter.com/ericbalchunas/status/1745546235069481360), but despite a momentary surge towards $49K, BTC stayed even throughout the day.
- 🙅 **Vanguard snubs BTC.** Vanguard said it had no plans to offer BTC ETFs to customers, [telling The Block](https://twitter.com/theblockupdates/status/1745495034315632748), "High volatility runs counter to our goal of helping investors generate positive real returns over the long term." 
- 🚀 **Circle files for IPO. **The stablecoin issuer [confidentially filed documents for a US IPO](https://twitter.com/JasonYanowitz/status/1745437799539507548). Circle had previously pursued efforts to go public via a SPAC.

.  .  .

 
  
    
      
      TODAY IN MARKETS
    
    
  
  
    
    Mixed Reception to ETF Debut
  
  

  

 
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/01/image--90-.png)](https://www.bankless.com/btcs-etf-debut-sees-mixed-success)📊** Bitcoin's big day. **It’s the first day of spot BTC ETFs trading, and Bitcoin is now more accessible than ever, but price is trending downward on the day. *What gives with BTC’s lackluster performance?*

Prices as of 5pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $1.77T
       

  
    
    ↗ 2.8%
    
  

   
    
    ↗ 4.7%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $46,172
       

  
    
    ↗ 0.6%
    
  

   
    
    ↗ 3.8%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $2,603
       

  
    
    ↗ 3.1%
    
  

   
    
    ↗ 14.5%
    
  

  

[Unlock Today's Full Market Analysis](https://www.bankless.com/btcs-etf-debut-sees-mixed-success)

.  .  .

 
  
    

    OPINION

  
  
    
   What Comes Next
  
  
  
  
  
   
     
     Bankless Author: 
     
      [
       
       Ryan Sean Adams
     
    ](https://twitter.com/RyanSAdams)
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/01/image--89-.png)](https://www.bankless.com/the-day-after-the-bitcoin-etf)We've heralded the coming of the Bitcoin ETF here at Bankless. I expect we'll do the same for the Ethereum ETF, which is bound to happen eventually. That said, I wanted to give you a more sober "*day after*" take on the Bitcoin ETF and what it means.

Don't get me wrong. I'm celebrating the victory of the Bitcoin ETF today. The SEC should have done this years ago. Instead, by applying "[arbitrary and capricious](https://x.com/propelforward/status/1745204518835339437?s=20)" anti-crypto logic, they stonewalled the Bitcoin ETF for over a decade, harming the very retail market they've sworn to protect through the existence of cash-bleeding pseudo-ETF products like Grayscale BTC.

They had the audacity to call this "protecting investors."

**Read the full take on our website 👇👇👇**

[Get the Full Details](https://www.bankless.com/the-day-after-the-bitcoin-etf)
---