The inaugural US ETFs directly holding Bitcoin have made a robust entrance, marking a historic first day of trading for these long-awaited investment vehicles. By 1 p.m. in New York on Thursday, over $3.5 billion worth of shares had exchanged hands among the 11 US spot Bitcoin exchange-traded funds. 

Notably, some reports indicate that the Grayscale Bitcoin Trust, which transitioned into an ETF, boasted approximately $1.7 billion in trading volume. BlackRock's iShares Bitcoin Trust (IBIT) witnessed more than $880 million in trading activity.

In three hours, Grayscale Bitcoin Trust managed to secure the position of the third-most actively traded ETF debut in history. It's important to acknowledge that this product has been in its trust format since 2013, granting it a considerable head start with nearly $27 billion in assets.

It's worth noting that trading volume does not necessarily indicate buying or selling or the flow of investor capital into these funds. Due to the settlement process employed by these funds, the net inflow or outflow of funds may not be ascertainable until at least Friday.

Comparatively, when the initial Bitcoin futures fund commenced trading in 2021, it witnessed a turnover of nearly $1 billion on its entire first day. At the time, the debut of the futures fund stood as the second-most heavily traded fund in history.

It was the first day of ETF trading ever. 

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