Bitcoin

<p><strong>BlackRock’s iShares Bitcoin Trust (IBIT) has now become the world’s largest Bitcoin exchange-traded fund (ETF), surpassing the Grayscale Bitcoin Trust (GBTC) as per the latest publicly available data.</strong></p><h2 id="header-0">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/05/Chika-Moji-Airdrop.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>According to the <strong><a href="https://heyapollo.com/bitcoin-tracker/overview" rel="noopener noreferrer nofollow">Apollo Bitcoin</a></strong> Tracker, BlackRock’s spot Bitcoin ETF has shown significant growth, accumulating 288,670 BTC. This surpasses Grayscale’s holdings of 287,450 BTC, establishing BlackRock as a leader in Bitcoin holdings among ETF providers.</p><h3 id="strong-bitcoin-etf-competition-blackrock-vs-grayscale-and-fidelity-strong"><strong>Bitcoin ETF Competition: BlackRock vs. Grayscale and Fidelity</strong></h3><p>A <strong><a href="https://www.bloomberg.com/news/articles/2024-05-29/blackrock-s-ibit-now-world-s-largest-bitcoin-btc-etf-as-gbtc-shrinks" rel="noopener noreferrer nofollow">Bloomberg report</a> </strong>dated May 29 highlighted that BlackRock’s Bitcoin fund now holds $19.68 billion in Bitcoin, slightly edging out Grayscale’s $19.65 billion, according to their data. <a href="https://cryptosheadlines.com/jpmorgan-blackrock-fidelity-bitcoin-etfs-outperform-grayscale-on-liquidity/" rel="noopener noreferrer nofollow">Fidelity’s Bitcoin ETF</a> trails behind with $11.1 billion in holdings. Both <a href="https://cryptosheadlines.com/grayscale-bitcoin-trust-surges-towards-2023-highs-on-blackrock-etf-filing-buyers-rally/" rel="noopener noreferrer nofollow">BlackRock’s and Grayscale’s ETFs were launched in January 2024</a>. Initially, Grayscale’s ETF held 620,000 BTC, which was over 3% of the cryptocurrency’s circulating supply at the time. The fund transitioned from a successful Trust Fund to a spot ETF but has been experiencing consistent daily significant outflows.</p><p>In contrast, BlackRock’s ETF has been the top performer since its launch, attracting the <a href="https://cryptosheadlines.com/chinas-major-firms-officially-launch-unexpected-bitcoin-spot-etf/" rel="noopener noreferrer nofollow">majority of inflows among the 11 spot Bitcoin ETFs launched</a> concurrently. The primary reason cited for the substantial outflows from Grayscale’s fund has been its high premium trading fees, maintaining an initial 1.5% commission while competitors launched with only 0.2%.</p><p>On May 28, BlackRock’s iBIT recorded an inflow of $102.5 million, while Grayscale’s GBTC experienced an outflow of $105 million, illustrating the shifting dynamics in the <a href="https://cryptosheadlines.com/bitwise-executive-predicts-bitcoin-etfs-to-dominate-the-market/" rel="noopener noreferrer nofollow">Bitcoin ETF market</a>.</p><h2 id="header-1">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/05/Chika-Moji-Airdrop-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><h3 id="strong-blackrock-funds-invest-in-bitcoin-etf-as-market-grows-strong"><strong>BlackRock Funds Invest in Bitcoin ETF as Market Grows</strong></h3><p>According to regulatory filings from the first quarter of 2024, BlackRock’s income and bond-focused funds have begun investing in its Bitcoin ETF. The Strategic Income Opportunities Fund (BSIIX) acquired $3.56 million worth of IBIT shares, while the Strategic Global Bond Fund (MAWIX) purchased $485,000 of shares, as detailed in Securities and Exchange Commission filings dated May 28.</p><p><a href="https://cryptosheadlines.com/dogecoin-founder-reveals-winning-strategy-for-using-x-platform/" rel="noopener noreferrer nofollow">Also Read:   Dogecoin Founder Reveals Winning Strategy for Using X Platform</a></p><p>Globally, <a href="https://cryptosheadlines.com/galaxy-expects-74-btc-surge-in-first-year-of-spot-bitcoin-etf/" rel="noopener noreferrer nofollow">spot Bitcoin ETFs now collectively hold over one million BTC</a>, amounting to more than $68 billion. This constitutes nearly 5.10% of the total Bitcoin supply, reflecting significant institutional interest and investment in the cryptocurrency market.</p><p>On May 28, Bitcoin’s price rose by 1.1% to reach $68,550, according to <strong><a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap data</a></strong>. Currently, its trading price is approximately $67,795, showing slight fluctuations within the market.</p><p><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</p>

BlackRock’s IBIT Surpasses Grayscale to Become Biggest Bitcoin Fund

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