Cumulative trading volume for U.S. spot bitcoin exchange-traded funds surpassed $150 billion on Tuesday, less than 10 weeks after the Securities and Exchange Commission approved ETFs from BlackRock, Fidelity, and Bitwise, among others.

Spot bitcoin ETF cumulative trading volume has increased by $50 billion since March 8 alone — when total volume first reached the $100 billion mark — to hit $151.4 billion by the close of trading yesterday, according to The Block’s data dashboard.

Tuesday’s spot bitcoin ETF trading volume came in at $5.6 billion, led by BlackRock’s IBIT on $2.5 billion, followed by Grayscale’s GBTC and Fidelity’s FBTC on $1.5 billion and $962 million, respectively.

Grayscale’s higher fee GBTC fund has been gradually squeezed for market share by trading volume, down …