Golden Finance reported that since the spot Bitcoin ETF began trading in the United States on January 11, the trading volume of the Bitcoin futures ETF ProShares Bitcoin Strategy ETF (BITO) has dropped significantly. According to data tracked by cryptocurrency exchange Coinbase, the value of Just over $500 million in BITO shares changed hands on the New York Stock Exchange, down 75% from the $2 billion record set on January 11. According to data source ETF.com, BITO had net outflows of more than $270 million during the same period. At the same time, the cumulative trading volume of 11 spot ETFs reached $14 billion in the first week, according to Coinbase data, which is more than all other ETFs launched in 2023. The funds have raised more than $1.2 billion in investor capital within a week of their inception.