Data from Bloomberg ETF analyst Eric Balchunas revealed that spot Bitcoin ETF trading volume surged to $111 billion in March, a substantial increase compared to the $42.2 billion recorded in February. The trading volume growth highlights the growing interest in spot Bitcoin ETFs, with BlackRock's IBIT ETF leading in market dominance over competitors like Grayscale's GBTC and Fidelity's FBTC. According to Balchunas, IBIT's volume race victory positions it as the equivalent of the "GLD of Bitcoin" in the ETF market.

In terms of market share, BlackRock's IBIT continues to outperform its competitors, with recent data showing inflows totaling $165.9 million, despite Grayscale's $302.6 million in outflows. Fidelity's FBTC also saw significant inflows of $44 million, while ARK Invest 21Shares ETF ARKB experienced minor outflows of $300,000. These numbers contribute to the growing assets under management for BlackRock and Fidelity's spot Bitcoin ETFs, which surpassed $18 billion and $10 billion, respectively, last month.

On the other hand, Grayscale's GBTC witnessed substantial outflows, totaling over $300 million on April 1 alone. This resulted in a 46% decrease in assets under management for GBTC, now standing at $22 million, as reported by Coinglass. The shift in assets among these different ETFs has significantly impacted BTC markets, contributing to new all-time highs reached in March.

Despite these trends, it's important to note that this article does not offer investment advice. Each trading decision carries risks, and readers are advised to conduct their own research before making any investment choices.