Chair

Bitcoin

BlackRock

BlackRock Inc.’s iShares Bitcoin Trust, IBIT, has overtaken Grayscale’s Bitcoin Trust to become the largest Bitcoin fund globally. As of Tuesday, May 28, the iShares Bitcoin Trust’s assets reached almost $19.68 billion, just edging out Grayscale’s $19.65 billion. 
This achievement came after steady investments flowed into the <a href="https://farside.co.uk/?p=997" target="_blank" rel="noreferrer noopener nofollow">BlackRock fund, highlighted </a>by a significant gain of $102 million on that day. In contrast, Grayscale experienced a net outflow of around $105 million. The iShares Bitcoin Trust has garnered an inflow of $16.5 billion since its beginning, supporting companies’ growth and profitability through mergers and acquisitions. Investors choose BlackRock because its fees are cheaper and it is easy to access the market. 
The U.S. spot Bitcoin ETF saw BlackRock and Fidelity Investments, which was clearly a turning point in the crypto market. When these funds started trading on January 11th, they held a significant 2–5% of all circulating bitcoin, contributing to its wider popularity. 
Last week, the SEC unexpectedly started to <a href="https://www.cryptotimes.io/2024/05/24/sec-finally-approves-ethereum-spot-etfs/" target="_blank" rel="noreferrer noopener">approve ETFs for Ether.</a> Despite this, the agency led by Chair Gary Gensler remains cautious about the crypto sector due to recent scandals. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also read: <a href="https://www.cryptotimes.io/2024/05/29/blackrock-purchases-ishares-bitcoin-trust-shares-in-q1-2024/" target="_blank" rel="noreferrer noopener">BlackRock Purchases iShares Bitcoin Trust Shares in Q1 2024 </a> 
</blockquote>

BlackRock’s ETF Is Now the World’s Largest Bitcoin Fund

The Crypto Times

Other articles published on May 29, 2024

Neural features key to reducing AI hallucinations: Anthropic CEO

Crypto Price Analysis: Can Meme Coins Drive Gains Amid Sluggish Market Recovery

Argentina’s Bitcoin adoption rumors are exaggerated, says an El Salvador official

Whales Push Bitcoin Into Narrow Consolidation Range: What To Expect Next

Dogwifhat (WIF) Surges 20%; Bulls Target Another 10% Gain

Dogwifhat (WIF) Skyrockets 39% in Volume as Price Goes Bullish

Join our free newsletter for daily crypto updates!