American multinational investment company BlackRock, A monumental achievement has been achieved recently. recording Over $20 billion total assets. BlackRock Spot Bitcoin ETF is now the most popular Bitcoin ETF, surpassing Grayscale. largest Bitcoin fund In the world.
BlackRock takes over Grayscale
BlackRock iShares Bitcoin Trust recently became the largest Bitcoin trust in the world, surpassing its main rival. Grayscale Bitcoin Trust (GBTC).
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Beginning Tuesday, May 28, BlackRock’s Spot Bitcoin ETF The Bitcoin ETF managed by Grayscale, with its $19.65 billion AUM, was surpassed in size and value by the second largest Bitcoin ETF. Fidelity Investments, The AUM was $11.1 billion. BlackRock’s AUM has risen to $20 billion in the last two days.
Grayscale launched its Spot Bitcoin ETF in January 2011. Since then, it has been consistently delivering on the promise of its ETF. recorded massive outflows It is worth billions. Asset management company has been the largest Bitcoin Fund in the World for years.
Grayscale’s Bitcoin Fund has seen investors withdraw almost $18 billion since it was converted into an ETF in the year 2024. On May 3. GBTC recorded its first inflowThe 82-day outflow streak is over.
Grayscale had been weakened by its previous outflows, which were already a significant factor in its position as the biggest Bitcoin ETF. BlackRock’s Spot Bitcoin has seen a significant increase in its value. recording millions of inflows Since its launch, it is no surprise that IBIT has surpassed Grayscale GBTC.
BlackRock only has a few outflows, and they are very minimal. zero flows. IBIT recorded its highest inflow on March 12. It collected approximately $849 in one day. BlackRock’s Spot Bitcoin ETF saw its first loss on May 1. It was about $36,9 million. Grayscale reported an outflow of $167 million on the same date.
BlackRock’s Spot Bitcoin ETF is likely to attract investors due to the relatively lower ETF management fee, which has decreased from 0.30% – 0.25%. Grayscale is the one with the highest fees. highest ETF management fees There are many ways to get involved. There are 11 ETFs that have been approved by the United States for Bitcoin Spot.
The asset management company is a good example of this. promised to slash feesGrayscale Bitcoin Trust has a current ETF fee as high as 1% annually.
Still Leading Spot Bitcoin ETF Net Inflows
The following is a list of Farside dataBlackRock’s stock has been rising for the last seven days. leading the Spot Bitcoin ETF raceThe 11 Bitcoin Spot ETFs have seen the highest inflows.
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Except for May 27, all United States Spot Bitcoin ETFs BlackRock’s Bitcoin Trust saw $102.5 million inflows on Wednesday, while Grayscale’s Spot Bitcoin ETF experienced outflows of $105.2 millions. BlackRock’s Bitcoin Trust recorded $102.5 million of inflows, while Grayscale’s Spot Bitcoin ETF experienced outflows worth $105.2 millions. Grayscale has lost $31.1 Million as at this writing.
Featured Image created using Dall.E and chart from Tradingview.com
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Source: www.newsbtc.com