The cumulative volume for the 11 spot bitcoin ETFs exceeded $10 billion on Wednesday in their fourth day of trading, according to Yahoo Finance data compiled by The Block.

Grayscale, BlackRock and Fidelity are continuing to dominate with about 90% of the total trading volume. On Tuesday, the total volume for the new products registered at $1.8 billion, well below the $3 billion seen last Friday and the $4.6 billion seen on day one.

As of 10:53 a.m. ET on Wednesday, nearly $466 million had changed hands. 

On Tuesday, BlackRock and Fidelity's spot bitcoin ETFs led in terms of fresh capital flowing into the total 11 crypto-based instruments trading on different exchanges, according to Bloomberg Intelligence senior ETF analyst Eric Balchunas. Each of the two funds have brought in more …