The short answer is yes. Most fibreglass and basalt insulation products will emit some smoke during their first heat cycle.
During the production process for glass fibre fabrics, binders or specially formulated starches are used to lubricate the fibres and hold them in their woven pattern.
When subject to high temperatures these starches or binders can evaporate or burn off causing smoke to be emitted by the fibreglass tapes or fabrics. This causes no damage and is quite normal although it can be a little scary if you are not expecting it.
The smoking will not last long as is simply a normal occurence.