American multinational investment company black rock, It has recently achieved a monumental milestone, bitcoin–btc-etf-as-gbtc-shrinks” rel=”nofollow”>recording more than $20 billion in total assets. The BlackRock Spot bitcoin ETF has successfully overtaken Grayscale to become the bitcoin-etf-gobbles-up-nearly-196000-btc/” rel=”nofollow”>largest bitcoin fund in the world.
BlackRock outperforms grayscale
BlackRock iShares bitcoin Trust has recently become the largest bitcoin fund in the world, surpassing its main rival, Grayscale bitcoin Trust (GBTC).
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Starting Tuesday, May 28 bitcoin-etf-beats-okx-and-kraken-holdings/” rel=”nofollow”>BlackRock bitcoin Spot ETF had around $19.68 billion in assets under management (AUM), toppling the Grayscale bitcoin ETF with $19.65 billion and surpassing the third-largest, bitcoin-etfs/” rel=”nofollow”>Loyalty investments, which recorded $11.1 billion in assets under management. Over the past two days, BlackRock has seen more inflows, bringing its assets under management to more than $20 billion today.
Following the launch of its Spot bitcoin ETF on January 11, Grayscale has consistently bitcoin-etf-flows/” rel=”nofollow”>massive departures were recorded worth billions of dollars. For years, the asset management company was the world's largest bitcoin fund, peaking at about $44 billion in 2021.
However, since converting to an ETF in early 2024, investors have withdrawn nearly $18 billion from Grayscale's bitcoin fund. On May 3, bitcoin-trust-first-inflows-in-3-months/” rel=”nofollow”>GBTC registered its first entryreceiving approximately $63 million and effectively ending its 82-day streak of capital outflows.
Its previous departures had already significantly weakened Grayscale's position as the largest bitcoin ETF. In contrast, BlackRock's Spot bitcoin ETF has been bitcoin-etf-nears-new-record/” rel=”nofollow”>recording millions of entries since its launch, so it is no surprise that IBIT has finally surpassed Grayscale's GBTC.
BlackRock has only recorded a few capital outflows and minimal ones bitcoin-etf-ibit-registers-zero-inflows/” rel=”nofollow”>zero flows. Its largest inflow on record came on March 12, when IBIT raised approximately $849 million in a single day. Additionally, BlackRock's Spot bitcoin ETF witnessed its first exit on May 1, losing around $36.9 million. On the same day, Grayscale had reported outflows of more than $167 million.
Investors are likely to prefer BlackRock's Spot bitcoin ETF due to its relatively affordable ETF management fees, which decreased from 0.30% to 0.25%. On the other hand, gray scale has the bitcoin-etf-fee-war-grayscale-ceo-says-gbtc-fees-will-drop-over-time/” rel=”nofollow”>Higher ETF management fees among all the 11 Spot bitcoin ETFs Approved in the United States.
Although the asset management company has bitcoin-mini-trust/” rel=”nofollow”>promised to reduce ratesGrayscale's current bitcoin Trust ETF management fees remain up to 1.5% annually.
Continues to lead spot bitcoin ETF net inflows
According far side dataOver the past week, BlackRock has been bitcoin-tidal-wave-blackrock-etf-leads-inflows/” rel=”nofollow”>leading the Spot bitcoin ETF racerecording the most inflows of the 11 bitcoin spot ETFs.
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Except May 27, when everyone United States Spot bitcoin ETF Without flows, BlackRock recorded a total of $127.1 million during the first two days. BlackRock's bitcoin Trust saw inflows of $102.5 million on Wednesday, while Grayscale's Spot bitcoin ETF saw outflows of $105.2 million. Currently, Grayscale continues to see more exits, losing $31.1 million at the time of writing.
Featured image created with Dall.E, chart from Tradingview.com
