BlackRock’s Bitcoin Investment Trust (IBIT) has witnessed a significant increase in holdings, adding 19,514.4 BTC year-to-date. This positive trend contrasts sharply with the overall market sell-off observed in other Bitcoin ETFs. Notably, companies like Grayscale’s GBTC have seen substantial outflows, shedding nearly 15,256.6 BTC from its reserves. IBIT’s purchase activity contrasts significantly with this trend of selling by rival ETFs, including FBTC, BRRR, BTCO, and BITB. Analyst Julio Moreno commented on the discrepancy, noting BlackRock’s sustained conviction in Bitcoin while others adjust to market volatility. He suggests that for long-term growth in Bitcoin demand, other ETFs need to follow suit, mirroring Blackrock’s bullish approach.