"Bitcoin ETF Surpasses $10 Billion as Price Soars and Tumbles"

BlackRock's iShares Bitcoin Trust (IBIT) has reached $10bn in assets in less than two months, making it the fastest US ETF to do so, fueled by a rally that has propelled bitcoin to record highs. The 10 spot bitcoin ETFs approved by the SEC in January have collectively garnered about $7bn in net inflows, with investors moving from the pricier Grayscale Bitcoin Trust ETF to lower-cost alternatives. High-frequency traders and retail investors have shown significant interest in these ETFs, with recent launches from other firms also reaching the $10bn threshold in about two years. The SEC's approval has increased confidence in bitcoin's security, leading to a surge in demand for these ETFs.