Eleven spot bitcoin ETFs surged out of the gate as they hit the market Thursday morning. 

Total trading volumes for BlackRock, Fidelity and Grayscale products exceeded $1 billion in the first 30 minutes of trade, according to market data crunched by Blockworks.

BlackRock’s iShares Bitcoin Trust (IBIT) led trading volumes with roughly 10 million shares traded in the first 15 minutes after the bell, according to Yahoo Finance data. Investors had traded about 13.5 million of IBIT by 10 am ET.  

The Fidelity Wise Origin Bitcoin Fund (FBTC) and the Grayscale Bitcoin Trust (GBTC) — newly converted to an ETF — had traded roughly 5 million shares and 10.5 million shares, respectively,…

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