BlackRock Overtakes Grayscale To Become The Largest Bitcoin Fund In The World With $20 Billion AUM



American
multinational
investment
company


BlackRock,


has
recently
achieved
a
monumental
milestone,


recording


over
$20
billion
in
total
assets.
The
BlackRock
Spot
Bitcoin
ETF
has
successfully
surpassed
Grayscale
to
become
the


largest
Bitcoin
fund


in
the
world. 

BlackRock
Overtakes
Grayscale 


BlackRock
iShares
Bitcoin
Trust
has
recently
become
the
world’s
largest
Bitcoin
fund,
overtaking
its
primary
rival,


Grayscale
Bitcoin
Trust
(GBTC)


Related
Reading


As
of
Tuesday,
May
28,


BlackRock’s
Spot
Bitcoin
ETF


held
around
$19.68
billion
in
Assets
Under
Management
(AUM),
overthrowing
Grayscale’s
Bitcoin
ETF
with
$19.65
billion
and
surpassing
the
third
largest,


Fidelity
Investments
,

which
recorded
$11.1
billion
in
AUM.


Over
the
past
two
days,
BlackRock
has
recorded
more
inflows,
pushing
its
AUM
to
more
than
$20
billion
presently. 

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Following
the
launch
of
its
Spot
Bitcoin
ETF
on
January
11,
Grayscale
has
consistently


recorded
massive
outflows


worth
billions
of
dollars.
For
years,
the
asset
management
company
was
the
world’s
largest
Bitcoin
fund,
reaching
a
peak
of
about
$44
billion
in
2021. 


However,
since
its
conversion
into
an
ETF
at
the
beginning
of
2024,
investors
have
pulled
out
almost
$18
billion
from
Grayscale’s
Bitcoin
fund.
On
May
3,


GBTC
recorded
its
first
inflow
,
receiving
approximately
$63
million,
and
effectively
ending
its
82-day
streak
of
outflows. 


Its
previous
outflows
had
already
significantly
weakened
Grayscale’s
position
as
the
largest
Bitcoin
ETF.
In
contrast,
BlackRock’s
Spot
Bitcoin
ETF
has
been


recording
millions
of
inflows


since
its
launch,
making
it
unsurprising
that
IBIT
has
eventually
surpassed
Grayscale’s
GBTC.


BlackRock
has
only
recorded
a
handful
of
outflows
and
minimal


zero
flows
.
Its
highest
recorded
inflow
occurred
on
March
12,
with
IBIT
gathering
approximately
$849
million
in
a
single
day.
Additionally,
BlackRock’s
Spot
Bitcoin
ETF
witnessed
its
first
outflow
on
May
1,
losing
about
$36.9
million.
On
the
same
day,
Grayscale
had
reported
outflows
of
more
than
$167
million. 

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Investors
are
likely
favoring
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,
Grayscale
has
the


highest
ETF
management
fees


among
all
the 
11
approved
United
States
Spot
Bitcoin
ETFs. 


While
the
asset
management
company
has


promised
to
slash
fees
,
Grayscale’s
Bitcoin
Trust’s
current
ETF
management
fees
remain
as
high
as
1.5%
annually.

Still
Leading
Spot
Bitcoin
ETF
Net
Inflows


According
to


Farside
data
,
for
the
past
week,
BlackRock
has
been


leading
the
Spot
Bitcoin
ETF
race
,
recording
the
most
inflows
out
of
the
11
Spot
Bitcoin
ETFs. 


Related
Reading


Excluding
May
27,
when
all


United
States
Spot
Bitcoin
ETFs


saw
zero
flows,
BlackRock
recorded
a
total
of
$127.1
million
for
the
first
two
days.
BlackRock’s
Bitcoin
Trust
saw
$102.5
million
in
inflows
on
Wednesday,
while
Grayscale’s
Spot
Bitcoin
ETF
witnessed
outflows
of
$105.2
million.


Currently,
Grayscale
is
still
recording
more
outflows,
losing
$31.1
million
as
of
writing.

BTC
price
recovers
above
$68,000
|
Source:

BTCUSD
on
Tradingview.com

Featured
image
created
with
Dall.E,
chart
from
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Author: Scott Matherson


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