Just one day after the SEC approved the trading of spot bitcoin ETFs on most US exchanges, spot Bitcoin ETFs did $4.7 Billion on its first day of trading. This is remarkable, as it shows strong institutional interests in bitcoin and cryptocurrencies as a new and viable asset class. The spot bitcoin ETFs give investors direct ownership of bitcoin without actually physically holding the bitcoins. 11 spot bitcoin ETF applications from asset managers were approved, including from BlackRock, Fidelity and 9 others.