BlackRock made history by becoming the US’s largest BTC ETF. In fact, iShares Bitcoin Trust’s (IBIT), a $9 trillion asset manager, has officially surpassed Grayscale Bitcoin Trust. BlackRock achieved the feat in just 100 trading days. $20 billion worth of BTC In that time.
BlackRock has a strong influence on the financial structure and this development certainly reflects that. Its ascent to the top of the market is testament to its dominance. BlackRock’s dominance was expected by many, however the company confirmed it after receiving $102 million in Tuesday.
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BlackRock Bitcoin ETF surpasses Grayscale after only 100 days
BlackRock was one of the first names that came to mind when applications for Spot Bitcoin ETFs were accepted. It had potential to be the dominant asset management company in the world. The Grayscale ETF was the main competitor, as it had an advantage over the other issuers.
BlackRock has exceeded Grayscale in terms of its performance. own Spot Bitcoin ETF, the largest Bitcoin ETF in America. BTC worth $20 billion was surpassed by the latter’s BTC. Grayscale’s $19.5 billion The company has seen a loss of $105,000,000 in the last week.
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BlackRock’s buying activities had increased significantly. It is due in large part to the bullish sentiment of the markets, which has taken shape across many assets. The apparent sudden approval in India of Ethereum spot ETFs was the main reason for the shift.
Spot Bitcoin US ETFs have set an all-time record with 850,000 BTC in their possession. This figure is also higher than the previous record set in April of 845,00 BTC. It shows a clearly upward trend. BlackRock is the market leader for Bitcoin ETFs, and this should not change.
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Source: watcher.guru