On Jan. 10, the Securities and Exchange Commission (SEC) approved allowing 11 spot Bitcoin exchange-traded funds (ETFs) to trade on equity markets. The ETFs are expected to bring new investors into Bitcoin because there's a new way to access investment in the cryptocurrency.

Some of the largest asset managers and crypto firms took part in the offerings, making them even more appealing to investors.

All of this, combined with years of build-up and hype, resulted in $4.6 billion in volume across the 11 spot Bitcoin ETFs.

Here's a list of the ETFs and their volume on Day One:

  1. Grayscale Bitcoin Trust (GBTC  ): $2.09 billion
  2. iShares Bitcoin Trust by BlackRock (IBIT  ): $1.01 billion
  3. Fidelity Advantage Bitcoin (FBTC  ): $673 million
  4. ARK 21Shares (ARKB  ): $275 million
  5. Bitwise Bitcoin ETF (BITB  ): $120 million
  6. Franklin Bitcoin ETF (EZBC): $65.2 million
  7. Invesco Galaxy (BTCO  ): $44 million
  8. VanEck Bitcoin Trust (HODL  ): $24 million
  9. Valkyrie Bitcoin Fund (BRRR  ): $9 million
  10. WisdomTree Bitcoin Fund (BTCW  ): $6.4 million
  11. Hashdex Bitcoin Futures ETF (DEFI  ): $4.2 million
Grayscale is the largest crypto asset manager in the world. Its GBTC ETF existed before the spot ETF approval. Before, GBTC was a futures-linked ETF. It was converted into a spot ETF on Jan. 10. It was known to investors for some time, so some saw it as the go-to for trading.

Other notable firms on the list include BlackRock, which is the world's largest asset manager with over $9 trillion in assets under management, and ARK, a leader in the technology ETF space.

One notable firm not included on the list is Vanguard, a leader in the ETF space. It said that Bitcoin is too high risk and volatile, leading it to not offer a spot Bitcoin product to its clients.

All in all, over 700,000 individual trades were processed. This is nearly twice the amount of the leading NASDAQ ETF, QQQ. While QQQ had higher volumes on Day One, the large amount of trades signifies the amount of retail investment in the spot Bitcoin ETFs.

On Day One, the ETFs and Bitcoin did not perform incredibly well. Every ETF fell by 5% to 6%. The night before the approvals, Bitcoin hit a two-year high, so many see it as a sell-the-news event. This is relevant because the approvals have been seen as imminent for some time.

It will be interesting to see how the price of Bitcoin and the ETFs move in the coming days and weeks. Make sure to use Benzinga to stay up to date on all things crypto.