The newly launched Bitcoin exchange-traded funds (ETFs) made a whopping $1.4 billion in just the first two trading sessions, Bloomberg ETF analyst Eric Balchunas reports. Around half a million deals on these funds came up to an exhilarating trading volume of $3.6 billion that recorded the comings and goings from the funds.

A significant occurrence was the outflow of $579 million from one of the pioneers in this space, Grayscale’s Bitcoin Trust (GBTC). But even after accounting for this outflow, the net inflow into these novel financial products was an impressive $819 million. ETF analyst James Seyffart had earlier predicted that Bitcoin ETFs could pull in $10 billion in their inaugural year.

The outflow from GBTC coincided with a redemption agreement that gave shareholders a window to reclaim their rights. Some GBTC holders were seen switching to lower fee options, possibly booking losses, according to Anthony Scaramucci, SkyBridge Capital’s founder. GBTC till date is known to manage a Bitcoin stash valued at over $27 billion.

Leading the performance chart this week was BlackRock’s iShares Bitcoin Trust (IBIT) with investments worth $497.7 million. Close on its heels were Fidelity Advantage Bitcoin ETF (FBTC) with $422.3 million and Bitwise (BITB) with $237.9 million.

As interesting as it may seem, Bitcoin’s price saw a slump of 6.8% within a day of the ETF approval. Cointelegraph’s market analysis seems to indicate a sell-the-news-styled event wherein after a 75% surge in Bitcoin price prior to the ETF green light, its value dipped, validating a prediction of the bears. At the time of going to print, Bitcoin trades at $42,856, sliding down 0.77% within the last 24 hours.