Spot bitcoin ETFs officially started trading Thursday after receiving approval on Wednesday. Industry watchers and participants were quick to weigh in. 

The ETFs have already seen record volumes of over $4 billion by the end of the day, and — despite some believing that the approvals could trigger a sell the news event — bitcoin’s price is holding around $46,000 after hitting a high of $49,000 early Thursday.

“The ETF will most likely create more demand which will therefore lead market makers to assign more capital to support that liquidity. Crypto market liquidity still hasn’t fully recovered from the FTX crash in November 2022,” Sui Chung, CEO of CF Benchmarks, told…

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