Bitcoin ETF

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>BlackRock’s Bitcoin ETF, IBIT, becomes the largest BTC fund in the world with $20 billion.</li> 
 <li>The crypto product surpassed Grayscale Bitcoin Trust.</li> 
</ul> 
<a href="https://www.bloomberg.com/news/articles/2024-05-29/blackrock-s-ibit-now-world-s-largest-bitcoin-btc-etf-as-gbtc-shrinks?utm_medium=social&amp;utm_content=crypto&amp;utm_source=twitter&amp;utm_campaign=socialflow-organic&amp;embedded-checkout=true" rel="nofollow noopener" target="_blank">Bloomberg</a> notes that BlackRock’s iShares Bitcoin Trust is now the largest fund for BTC, amassing close to $20 billion in total assets since the US SEC approved the listing of the crypto products at the beginning of 2024. 
IBIT held $19.68 billion in BTC on May 28, surpassing the $19.65 <a href="https://sosovalue.xyz/bigChart/Etf_NYSE_GBTC?title=Grayscale%20Investments(GBTC)&amp;coin=BTC" rel="nofollow noopener" target="_blank">Grayscale</a> Bitcoin Trust, according to official data. The third largest BTC ETF is Fidelity Investments’ FBTC with $11.1 billion. 
<figure id="attachment_43562" aria-describedby="caption-attachment-43562" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/05/blackrock1.png"><img loading="lazy" decoding="async" class="wp-image-43562 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/05/blackrock1.png" alt="SoSoValue data" width="1652" height="682" title="BlackRock's $20B Bitcoin ETF IBIT Becomes World's Largest BTC Fund 19" srcset="https://crypto.ro/en/wp-content/uploads/2024/05/blackrock1.png 1200w, https://crypto.ro/en/wp-content/uploads/2024/05/blackrock1-300x124.png 300w, https://crypto.ro/en/wp-content/uploads/2024/05/blackrock1-1024x423.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/05/blackrock1-768x317.png 768w, https://crypto.ro/en/wp-content/uploads/2024/05/blackrock1-750x310.png 750w, https://crypto.ro/en/wp-content/uploads/2024/05/blackrock1-1140x471.png 1140w" sizes="(max-width: 1652px) 100vw, 1652px"></a>
 <figcaption id="caption-attachment-43562" class="wp-caption-text">
 SoSoValue data
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</figure> 
BlackRock and Fidelity’s Bitcoin ETFs were among the crypto products that debuted at the beginning of the year, the same day that Grayscale’s vehicle converted into an ETF as well. 
The launches of these crypto products made Bitcoin more accessible to investors, triggering a rally for BTC close to $74,000 back in March. 
<h2 id="blackrock-s-ibit-attracted-the-largest-inflow-since-going-live">BlackRock’s IBIT attracted the largest inflow since going live</h2> 
BlackRock’s Bitcoin ETF attracted the largest inflows since it went live by March, while, at the same time, investors have pulled $17.7 billion from the Grayscale fund over the same period. Grayscale’s fees and exits by arbitragers have been mentioned as potential outflow drivers. 
<a href="https://www.bloomberg.com/news/articles/2024-05-29/blackrock-s-ibit-now-world-s-largest-bitcoin-btc-etf-as-gbtc-shrinks?utm_medium=social&amp;utm_content=crypto&amp;utm_source=twitter&amp;utm_campaign=socialflow-organic&amp;embedded-checkout=true" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" class="alignnone" src="https://archive.is/Po26R/eaa2c963cf6675e0e6849f48203e71f0e80cd6db.jpg" alt="eaa2c963cf6675e0e6849f48203e71f0e80cd6db" width="1200" height="675" title="BlackRock's $20B Bitcoin ETF IBIT Becomes World's Largest BTC Fund 20"></a> 
Back then, BlackRock’s Larry Fink said that their crypto product was the<a href="https://crypto.ro/en/news/blackrocks-spot-bitcoin-etf-is-the-fastest-growing-ever-larry-fink-says/"> fastest-growing</a> in history. 
According to the same reports by Bloomberg, citing a March regulatory filing, Grayscale plans to launch a clone of its main fund. This time, fees are expected to be lower, according to a source familiar with the matter. 
The SEC approved the US <a href="https://crypto.ro/en/news/bitcoin-etfs-recorded-45m-inflows-btc-above-68k/">Bitcoin ETFs</a> back in January. 
Grayscale created its Bitcoin Trust back in 2013 and it became the biggest such vehicle. Bloomberg also noted that shares in the closed-ended product were sometimes traded at substantial premiums or discounts to the net asset value, which led Grayscale to push for conversion into an ETF in order to ensure trading at par.

BlackRock’s $20B Bitcoin ETF IBIT Becomes World’s Largest BTC Fund

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