Spot bitcoin ETFs got off to an active second day of trading on Friday, with cumulative volume quickly surpassing $5 billion as the price of the world's largest cryptocurrency by market capitalization dipped below $45,000. 

In their first day of trading, the spot bitcoin ETFs generated nearly $4.6 billion in buying and selling. Day two of trading has seen $905 million of activity, according to Yahoo Finance data compiled by The Block.

"By all metrics: volume, number of trades, flows, media coverage, it was [a] smashing success, historical," Bloomberg Intelligence senior ETF analyst Eric Balchunas posted Friday morning in reference to day one of trading. "And that was despite limited platform availability."

BlackRock in the lead

BlackRock's brand new spot bitcoin ETF led all …