Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

BlackRock

American multinational investment company BlackRock, has recently achieved a monumental milestone, <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="nofollow">recording</a> over $20 billion in total assets. The BlackRock Spot Bitcoin ETF has successfully surpassed Grayscale to become the <a href="https://bitcoinist.com/blackrock-bitcoin-etf-gobbles-up-nearly-196000-btc/" rel="nofollow">largest Bitcoin fund</a> in the world.&nbsp; 
<h2 id="blackrock-overtakes-grayscale-b-b">BlackRock Overtakes Grayscale&nbsp;</h2> 
BlackRock iShares Bitcoin Trust has recently become the world’s largest Bitcoin fund, overtaking its primary rival, <a href="https://www.newsbtc.com/news/grayscale-battling-outflows-and-lower-cost-etfs-q1-revenue-stays-flat-at-156m/">Grayscale Bitcoin Trust (GBTC)</a>.&nbsp; 
As of Tuesday, May 28, <a href="https://bitcoinist.com/blackrock-bitcoin-etf-beats-okx-and-kraken-holdings/" rel="nofollow">BlackRock’s Spot Bitcoin ETF</a> held around $19.68 billion in Assets Under Management (AUM), overthrowing Grayscale’s Bitcoin ETF with $19.65 billion and surpassing the third largest, <a href="https://bitcoinist.com/fidelity-gbtc-spot-bitcoin-etfs/" rel="nofollow">Fidelity Investments</a>, which recorded $11.1 billion in AUM. Over the past two days, BlackRock has recorded more inflows, pushing its AUM to more than $20 billion presently.&nbsp; 
Following the launch of its Spot Bitcoin ETF on January 11, Grayscale has consistently <a href="https://bitcoinist.com/back-to-back-negative-bitcoin-etf-flows/" rel="nofollow">recorded massive outflows</a> worth billions of dollars. For years, the asset management company was the world’s largest Bitcoin fund, reaching a peak of about $44 billion in 2021.&nbsp; 
However, since its conversion into an ETF at the beginning of 2024, investors have pulled out almost $18 billion from Grayscale’s Bitcoin fund. On May 3, <a href="https://bitcoinist.com/grayscale-bitcoin-trust-first-inflows-in-3-months/" rel="nofollow">GBTC recorded its first inflow</a>, receiving approximately $63 million, and effectively ending its 82-day streak of outflows.&nbsp; 
Its previous outflows had already significantly weakened Grayscale’s position as the largest Bitcoin ETF. In contrast, BlackRock’s Spot Bitcoin ETF has been <a href="https://bitcoinist.com/blackrocks-bitcoin-etf-nears-new-record/" rel="nofollow">recording millions of inflows</a> since its launch, making it unsurprising that IBIT has eventually surpassed Grayscale’s GBTC. 
BlackRock has only recorded a handful of outflows and minimal <a href="https://bitcoinist.com/blackrock-bitcoin-etf-ibit-registers-zero-inflows/" rel="nofollow">zero flows</a>. Its highest recorded inflow occurred on March 12, with IBIT gathering approximately $849 million in a single day. Additionally, BlackRock’s Spot Bitcoin ETF witnessed its first outflow on May 1, losing about $36.9 million. On the same day, Grayscale had reported outflows of more than $167 million.&nbsp; 
Investors are likely favoring BlackRock’s Spot Bitcoin ETF due to its relatively affordable ETF management fees, which decreased from 0.30% to 0.25%. On the other hand, Grayscale has the <a href="https://bitcoinist.com/bitcoin-etf-fee-war-grayscale-ceo-says-gbtc-fees-will-drop-over-time/" rel="nofollow">highest ETF management fees</a> among all the&nbsp;11 approved United States Spot Bitcoin ETFs.&nbsp; 
While the asset management company has <a href="https://bitcoinist.com/grayscale-proposes-fee-for-its-bitcoin-mini-trust/" rel="nofollow">promised to slash fees</a>, Grayscale’s Bitcoin Trust’s current ETF management fees remain as high as 1.5% annually. 
<h2 id="still-leading-spot-bitcoin-etf-net-inflows">Still Leading Spot Bitcoin ETF Net Inflows</h2> 
According to <a href="https://farside.co.uk/?p=1321" rel="nofollow">Farside data</a>, for the past week, BlackRock has been <a href="https://bitcoinist.com/bitcoin-tidal-wave-blackrock-etf-leads-inflows/" rel="nofollow">leading the Spot Bitcoin ETF race</a>, recording the most inflows out of the 11 Spot Bitcoin ETFs.&nbsp; 
Excluding May 27, when all <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-spot-etf-record-consecutive-weeks-of-inflows-as-investor-confidence-grows/">United States Spot Bitcoin ETFs</a> saw zero flows, BlackRock recorded a total of $127.1 million for the first two days. BlackRock’s Bitcoin Trust saw $102.5 million in inflows on Wednesday, while Grayscale’s Spot Bitcoin ETF witnessed outflows of $105.2 million. Currently, Grayscale is still recording more outflows, losing $31.1 million as of writing. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/fRjhyxFM/" alt="Bitcoin price chart from Tradingview.com (BlackRock Grayscale)" width="3286" height="1576">

BlackRock Overtakes Grayscale To Become The Largest Bitcoin Fund In The World With $20 Billion AUM

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