Bitcoin Price Stalls At $46,000 Despite Record ETF Day: Here’s Why
Summary
The largest Bitcoin ETF launch in the US saw $4.6 billion in trading volume, with Grayscale leading at $2.3 billion. Despite this, Bitcoin's price remained around $46,000 due to factors like compliance delays, brokerage restrictions, and GBTC selling. Vanguard's decision to block its customers from buying BTC Spot ETFs complicates the landscape for Bitcoin ETF adoption. Rotation out of Bitcoin ETF proxies and Grayscale's significant sell orders also impacted the market. BTC traded at $45,893 at press time.
