BlackRock's Bitcoin ETF Dominates, Surpassing Grayscale
Coingape•1 year ago•
1120

BlackRock's Bitcoin ETF Dominates, Surpassing Grayscale

Bitcoin
Crypto
ETF
BlackRock
Grayscale
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Summary:

  • BlackRock's iShares Bitcoin Trust (IBIT) has overtaken Grayscale's GBTC as the biggest Bitcoin fund.

  • BlackRock's own funds, including the Global Allocation Fund, have significantly invested in IBIT.

  • IBIT's AUM has reached nearly $19.79 billion, surpassing GBTC's AUM.

  • Despite zero inflows on Tuesday, IBIT continues to dominate the ETF market.

  • Other spot Bitcoin ETFs are also experiencing positive inflows, indicating growing institutional interest.

  • Spot Ethereum ETFs have been approved by the SEC, with several firms filing applications for their launch.

  • VanEck has filed the first Solana ETF application, potentially paving the way for more crypto ETFs.

BlackRock's iShares Bitcoin Trust (IBIT) has become the largest Bitcoin fund, surpassing Grayscale's GBTC. This is driven by BlackRock's own investment in IBIT through its Global Allocation Fund, Strategic Global Bond Fund, and Strategic Income Opportunities Portfolio. IBIT's Asset Under Management (AUM) has reached nearly $19.79 billion, while GBTC's AUM declined to $19.75 billion. IBIT's consistent inflows have helped it maintain its leading position, despite registering zero inflows on Tuesday. Other spot Bitcoin ETFs are also seeing positive inflows, indicating growing institutional interest in the crypto market. While spot Ethereum ETFs are approved by the SEC, they are yet to commence trading. Several firms, including VanEck, have submitted filings for spot Ethereum ETFs and have also filed for a Solana ETF, potentially opening the door for more crypto ETFs in the future.

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