Bitcoin's price rose Thursday, as the first spot bitcoin ETFs in the U.S. started trading after the Securities and Exchange Commission approved them yesterday. The price of the world's largest crypto currency by market capitalization rose 7.6% to $48,517 at 9:45 a.m.

Yahoo Finance showed both BlackRock's IBIT and Grayscale's GBTC as trending tickers.

"While focus as been on bitcoin, a big takeaway is that ETFs continue to show they can handle just about anything," Bloomberg Intelligence analyst Eric Balchunas said on X, posting a chart that showed the trading profile of the spot bitcoin ETFs in Europe, "where spreads and prem/disc have tightened. Expecting same in U.S. over time."

"What happened to selling the news?" he said in a follow up post.

Volumes to come

All eyes will be on …