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Coinbase (COIN) dropped 5% since trading opened, while bitcoin miners Marathon Digital (MARA) and Riot Platforms (RIOT) both endured over 10% losses.Earlier, Mizuho Securities, with an underperform rating on Coinbase shares and a $54 price target, said spot ETF approval is a “pyrrhic victory for COIN,” and potential upside to revenue from bitcoin ETFs may bemore muted than thought.The highly anticipated debut of the eleven bitcoin ETFs unleashed significant volatility in the asset's price, while investors are watching closely how much interest the eleven funds will attract by the end of the day.So far, BlackRock's IBIT is leading among the newly issued ETFs by trading volume with $500 million by 10:50 U.S.

Eastern Time, according to BitMex Research.

Grayscale's GBTC, the world's largest bitcoin investment fund that was uplisted from a closed-end fund to an ETF, recorded over $700 million in volumes in the first hour of trading.Krisztian Sandor recently graduated from NYU's business and economic reporter program as a Fulbright fellow and worked with Reuters and Forbes previously.

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He holds BTC and ETH.leverage ai to monitor market share changes in your industry ✌️【365vc.net】✌️Start investing in blockchain with just ₹500. Transparent, secure, and highly rewarding!