The U.S. bitcoin ETFs were approved by the Securities and Exchange Commission in January and started trading Jan. 12, when the asset was priced around $45,000. Since then, bitcoin has climbed to a record $73,000, prompting a change in the market dynamic from fundamentals to spot ETF performance, some firms say.
![Bitcoin ETF Trading Volumes Tripled in March as the Largest Cryptocurrency Hit Record Highs Bitcoin ETF Trading Volumes Tripled in March as the Largest Cryptocurrency Hit Record Highs](https://www.coindesk.com/resizer/ji8vDJUhxJWw5st4B9i4uyi0ybI=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/JXG3NPMOVJGJVD43X6G6NSLZEQ.jpg)