BlackRock's spot Bitcoin ETF, iShares Bitcoin Trust (IBIT), has surpassed Grayscale's Bitcoin Trust (GBTC) to become the world's largest Bitcoin ETF. On May 28th, IBIT recorded inflows of $102.5 million, while GBTC experienced outflows of $105 million. This brings IBIT's total Bitcoin holdings to 288,670 BTC, compared to GBTC's 287,450 BTC. The shift in market dominance highlights the growing acceptance of spot Bitcoin ETFs and the increasing appeal of IBIT's low-cost structure. With over $19.68 billion in assets under management, IBIT now accounts for a significant portion of the $68 billion held by all spot Bitcoin ETFs globally, representing 5.10% of the circulating Bitcoin supply.
Cointelegraph•1 year ago•
350
BlackRock's IBIT Dethrones Grayscale's GBTC as the Largest BTC Exchange-Traded Product
Bitcoin
ETF
Grayscale
iShares
BlackRock
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Summary:
IBIT overtakes GBTC as the largest Bitcoin ETF
IBIT records inflows of $102.5 million, while GBTC experiences $105 million in outflows
IBIT surpasses GBTC in Bitcoin holdings (288,670 BTC vs. 287,450 BTC)
Spot Bitcoin ETFs globally hold over one million Bitcoin (5.10% of circulating supply)
BlackRock's income and bond-focused funds invest in IBIT
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