After a month since launch, nine spot exchange-traded funds (ETFs) based on Bitcoin have amassed assets exceeding 200,000 BTC, approximately equivalent to $9.5 billion. These new Bitcoin ETFs quickly secured the second position among commodity ETFs in the US by asset volume, surpassing even silver ETFs. Among them are funds from companies such as BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Ark 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC), and WisdomTree (BTCW), collectively owning nearly 1% of the total Bitcoin supply, surpassing the holdings of MicroStrategy, Tether, and all public Bitcoin miners combined. Considering assets under management by Grayscale Bitcoin Trust (GBTC), the total volume of managed Bitcoins exceeds 662,000, amounting to around $30 billion.

However, Grayscale Bitcoin Trust (GBTC) faces outflows, losing 25% of its assets since January 11 and ceding the lead in Bitcoin ETF trading volume to BlackRock. BlackRock's iShares Bitcoin Trust (IBIT), the world's largest asset manager, holds 78,000 Bitcoins worth $3.5 billion. Eric Balchunas, an ETF market analyst at Bloomberg, noted the remarkably fast rise in popularity of IBIT, pointing out that typically, it takes new funds 5 to 10 years to achieve significant trading volumes in their category, whereas IBIT managed to do so in less than a month.