Okay the bitcoin spot ETF is here. Now what?

The debut of the new funds was met with much fanfare and liquidity, with day two of trading seeing $3.1 billion in trading volumes, as noted by my colleague RT Watson. 

Among issuers of new spot bitcoin funds, BlackRock led the way with $564 million traded on Friday, while Fidelity saw $431 million of volume. That's according to data from Yahoo Finance compiled by The Block.

Liquidity during these early days is likely to be welcomed by issuers and market participants, adding further fuel to this significant milestone in the maturation of the asset class and gaining acceptance among Wall Street giants.

Advocates for this financial instrument have anticipated that it could replicate the impact of the first gold spot ETF on the precious …