BlackRock's IBIT spot bitcoin exchange-traded fund (ETF) has achieved a significant milestone, accumulating over 200,000 BTC in assets under management (AUM) within a mere two months of trading. This achievement solidifies the position of the newborn nine spot bitcoin ETFs, excluding Grayscale's GBTC fund, which now collectively hold more than 420,000 BTC.

According to the latest disclosure from the fund, BlackRock's IBIT currently holds around 204,000 BTC, equivalent to approximately $14.7 billion at current prices. Among the newborn nine ETFs, Fidelity's FBTC holds the second-largest amount with over 128,000 BTC, followed by Ark Invest 21Shares' ARKB with nearly 38,000 BTC, according to BitMEX Research data.

This notable milestone comes shortly after IBIT surpassed MicroStrategy's holdings of 193,000 BTC. However, MicroStrategy recently announced an additional purchase of 12,000 BTC, reclaiming the lead with 205,000 BTC. Nonetheless, it is expected that BlackRock's IBIT will once again surpass MicroStrategy's bitcoin assets.

In terms of U.S. dollar valuation, Bitwise's BITB became the fifth U.S. spot bitcoin ETF to amass more than $2 billion in assets. This achievement is significant, as Bloomberg ETF analyst James Seyffart points out that out of approximately 3,500 U.S. ETPs, only 445 have surpassed the $2 billion mark. Seyffart further noted that only 157 ETPs have exceeded $10 billion, including GBTC and IBIT, with FBTC rapidly approaching.

It is interesting to observe that while Grayscale's GBTC fund has experienced significant outflows of around 37%, reducing its holdings from approximately 619,000 BTC to 388,000 BTC over the same period, its AUM has remained relatively stable due to price appreciation. Seyffart remarked on these dynamics, stating, "Price appreciation is a helluva drug. Bull market subsidy is in full effect here."

Moreover, the outflows from GBTC have accelerated recently, coinciding with a court ruling that allows the now-bankrupt crypto brokerage firm Genesis to sell over $1.3 billion worth of GBTC shares to repay its creditors. K33 Research analyst Vetle Lunde believes that the impact of these outflows will likely diminish in the near future.

In terms of trading volume and inflows, the U.S. spot bitcoin ETFs showcased strong performance. On Monday, net inflows for these ETFs reached $505.5 million, with IBIT leading with $562.9 million of inflows, followed by FBTC with $215.5 million worth of inflows, and Valkyrie's BRRR with $118.8 million. The trading volume for the ETFs amounted to $6.91 billion, the fourth-largest daily volume recorded so far.

The dominance of BlackRock and Fidelity's spot bitcoin ETFs in terms of trading volume has eroded Grayscale's initial stronghold. Cumulatively, the trading volume for all spot bitcoin ETFs now stands at an impressive $113.5 billion.

As of now, Bitcoin is trading at $72,031, marking a 7.5% increase over the past week.

Please note that the provided article is based on the information given in the provided text and may not reflect the most up-to-date developments in the market.