"Bitcoin ETFs Drive Record AUM for BlackRock and Fidelity"

Bitcoin ETFs have surged in popularity, with newly launched spot Bitcoin exchange-traded funds now comprising four of the 11 largest spot commodity ETFs, led by BlackRock's IBIT with over $10 billion in assets under management. Despite a strong week for spot Bitcoin ETFs, there were combined outflows on Feb. 29, with the Grayscale Bitcoin Fund ETF experiencing significant outflows. The surge in ETF activity has contributed to substantial gains for leading cryptocurrencies, with both Bitcoin and Ethereum reaching new year-to-date highs. However, market volatility has led to a high number of liquidated positions, and there is uncertainty surrounding the potential approval of spot Ether ETFs by the U.S. Securities and Exchange Commission.