"Bitcoin ETFs Surge as BlackRock and Fidelity Lead Inflows Over Grayscale"

BlackRock's iShares Bitcoin Trust ETF (IBIT) now holds 196,065 BTC, surpassing MicroStrategy's 193,000 BTC stash, reflecting the surging demand for spot Bitcoin ETFs since their introduction in January. The influx into nine new spot Bitcoin ETFs in the past two months exceeds the total inflow into all physical gold ETFs in the past five years, with cumulative trading volume surpassing $100 billion. This surge in trading activity has fueled the growth of spot Bitcoin ETFs, collectively holding 4% of Bitcoin’s total circulating supply, leading to a fresh all-time high in Bitcoin's price. However, the market witnessed a sharp sell-off, with Bitcoin's price dropping by nearly 6% shortly after reaching a new high, causing apprehension amidst the crypto's notorious volatility.