Many clients of the wealth management firm Gerber Kawasaki have demonstrated interest in the new spot bitcoin ETFs, according to investment advisor Brett Sifling.

"A lot of them are interested," Sifling told The Block. "As long as they’re comfortable with that risk profile, I think it’s just another tool for the toolbox as far as portfolio management is concerned."

Since they began trading last month, spot bitcoin ETFs have generated about $40 billion in cumulative trading volume with the products offered by BlackRock and Fidelity leading the way in terms of capital inflows, according to CoinShares. Grayscale’s converted fund has registered the most total trading volume, but a significant amount of the trading has included investors cashing out.

With more than $2.3 billion in assets …