As the reporting season for major US companies unfolds, a growing number of traditional firms have revealed their stakes in BlackRock's Bitcoin ETF (IBIT), a trend that highlights the increasing mainstream acceptance of cryptocurrency investments.

Among the top ten holders of IBIT, Rubric Capital Management LP and Symmetry Investments LP are notable for their significant investments. Rubric Capital, with a total of 1,722,497 units of IBIT, has committed over $69.7 million to the ETF, placing them at the forefront of the list. Symmetry Investments LP, with 1,519,700 units, follows closely with a total value of $61.5 million.

Yong Rong HK Asset Management Ltd, a lesser-known firm, has also made a substantial investment in IBIT, holding 1,127,561 units worth $45.63 million. This disclosure highlights the growing diversity of investors in the cryptocurrency market.

BlackRock's reputation as one of the world's largest investment management firms, with over $10 trillion in Assets Under Management (AUM), has undoubtedly contributed to its appeal. This legacy has attracted other prominent firms, including CTC Alternative Strategies Ltd and Monolith Management Ltd, which together hold over 1.2 million units of IBIT.

Other notable investors in IBIT include Susquehanna International Group, Qualtro Financial Advisors LLC, IvyRock Asset Management HK, Context Capital Management, and Ethos Financial Group. Ethos Financial, with the smallest stake of 350,460 shares, still holds a significant investment worth $14.18 million.

The widespread adoption of Bitcoin ETFs by major firms reflects a significant shift in the market, as seen in Wells Fargo's earlier disclosure of holding Grayscale Bitcoin Trust (GBTC). While only Susquehanna has invested in all spot Bitcoin ETF issuers, further filings may reveal additional unexpected holdings.

This trend has led to intense volatility in the price of Bitcoin, which initially experienced a price increase but later plummeted by 2.41% in 24 hours to $60,575.24 at the time of writing.