Spot bitcoin ETFs saw their first day of trading on Thursday, with the most notable story being the $4.5 billion in trading volume — suggesting a healthy uptake. 

As day two is fast approaching, we take a look at what we learned from yesterday and consider how today might fare.

Thursday’s strong trading volumes

Spot bitcoin ETFs saw a healthy $4.5 billion in trading volume on Thursday, with volumes largely concentrated among a select few of the ETFs.

Grayscale saw the largest trading volume of $2.2 billion, although it had an advantage in pre-existing assets under management. BlackRock’s ETF was in second place with $1 billion of trading volume, while Fidelity was third with $680 million.

In total, five ETFs each saw more than $100 million of trading volume, while six …