Bitcoin ETF

Spot

BlackRock

American multinational investment company, <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-etf-frenzy-blackrock-smashes-expectations-with-788-million-inflows-in-one-day/" target="_blank" rel="noopener nofollow">BlackRock</a> has surpassed Grayscale in total Assets Under Management (AUM) for Spot Bitcoin Exchange Traded Funds (ETFs). This milestone signifies <a href="https://bitcoinist.com/bitcoin-tidal-wave-blackrock-etf-leads-inflows/" target="_blank" rel="noopener ">BlackRock’s growing prominence in the ETF sector</a>, highlighting the company’s confidence in crypto-based investments.&nbsp;&nbsp; 
<h2 id="b-blackrock-spot-bitcoin-etf-surpasses-21-billion-b">BlackRock Spot Bitcoin ETF Surpasses $21 Billion&nbsp;</h2> 
<a href="https://www.newsbtc.com/news/bitcoin/blackrock-largest-bitcoin-fund/" target="_blank" rel="noopener nofollow">BlackRock’s iShares Bitcoin Trust (IBIT)</a> has exceeded $21.4 billion in assets under management, surpassing <a href="https://bitcoinist.com/bitcoin-bleed-grayscale-ceo/" target="_blank" rel="noopener ">Grayscale’s Bitcoin Trust ETF (GBTC)</a> by more than $1.6 billion. This massive increase is attributed to the consistent inflows witnessed by BlackRock’s Spot Bitcoin ETF since the beginning of the year. 
Following the launch of its <a href="https://bitcoinist.com/breaking-spot-bitcoin-etfs-approved-by-us-sec/" target="_blank" rel="noopener ">Spot Bitcoin ETF</a> on January 11, BlackRock has recorded millions in inflows daily, only witnessing a few <a href="https://bitcoinist.com/blackrock-bitcoin-etf-ibit-registers-zero-inflows/" target="_blank" rel="noopener ">zero inflows</a> and even fewer outflows for the past five months.&nbsp; 
According to Farside’s <a href="https://farside.co.uk/?p=1321" target="_blank" rel="noopener nofollow">data</a>, BlackRock recorded its first-ever inflow on January 11 after its launch, amassing over $111 million. Since then, the ETF has attracted hundreds of <a href="https://bitcoinist.com/blackrocks-bitcoin-etf-nears-new-record/" target="_blank" rel="noopener ">millions in inflows</a>, recording its largest-ever daily inflow of $849 million on March 12, 2024.&nbsp; 
Grayscale, on the other hand, has witnessed more outflows than inflows since its launch in January. Unsurprisingly, BlackRock’s IBIT has surpassed GBTC, considering Grayscale’s Spot Bitcoin ETF has recorded a <a href="https://bitcoinist.com/grayscale-spot-bitcoin-etf/" target="_blank" rel="noopener ">total of $17.5 billion in outflows</a>.&nbsp; 
<a href="https://www.ishares.com/us/products/333011/ishares-bitcoin-trust" target="_blank" rel="noopener nofollow">Data</a> from BlackRock’s fund site has revealed that the company’s Spot Bitcoin ETF has accumulated more than 302,536 BTC, constituting more than 1.4% of Bitcoin’s total circulating supply. In contrast, Grayscale has <a href="https://etfs.grayscale.com/gbtc" target="_blank" rel="noopener nofollow">gathered</a> approximately 285,105 BTC in its trust and currently holds $19.75 billion in assets under management.&nbsp; 
Despite experiencing <a href="https://bitcoinist.com/grayscale-bitcoin-trust-first-inflows-in-3-months/" target="_blank" rel="noopener ">brief inflows</a> in May, Grayscale continues to face substantial outflows. The most recent drops occurred on June 6 and June 7, with <a href="https://bitcoinist.com/back-to-back-negative-bitcoin-etf-flows/" target="_blank" rel="noopener ">GBTC seeing outflows</a> of $37.6 million and $36.3 million, respectively.&nbsp; 
<img loading="lazy" decoding="async" class="size-full" src="https://www.tradingview.com/x/0nqigxWZ/" width="1835" height="883"> 
Compared to Grayscale’s Spot Bitcoin ETF, BlackRock’s IBIT has been performing extremely well. BlackRock currently charges an <a href="https://bitcoinist.com/blackrock-slashes-bitcoin-etf-fees-to-competition/" target="_blank" rel="noopener ">annual management fee of 0.25%</a> for its Spot Bitcoin ETFs, while Grayscale Spot Bitcoin ETF imposes an expensive 1.5% fee.&nbsp; 
This substantial difference in ETF fees has had an influence on GBTC’s outflows since the beginning of the year. Many investors have been shifting assets from Grayscale Spot Bitcoin ETF to more cost-effective options like BlackRock’s IBIT.&nbsp; 
<h2 id="b-blackrock-attracts-945-million-inflows-in-four-days-b">BlackRock Attracts $945 Million Inflows In Four Days&nbsp;</h2> 
Farside has <a href="https://farside.co.uk/?p=997" target="_blank" rel="noopener nofollow">reported</a> a soaring increase in inflows for <a href="https://bitcoinist.com/blackrocks-etf-overtakes-grayscale/" target="_blank" rel="noopener ">BlackRock’s Spot Bitcoin ETF</a>, with IBIT recording four consecutive days of inflows from Tuesday, June 4 to Friday, June 7. 
On June 3, BlackRock’s IBIT saw zero inflows, while other Spot Bitcoin ETFs, such as <a href="https://bitcoinist.com/fidelity-gbtc-spot-bitcoin-etfs/" target="_blank" rel="noopener ">Fidelity Wise Origin Bitcoin Fund (FBTC)</a>, Bitwise Bitcoin ETF (BITB) and ARK 21Shares Bitcoin ETF (ARKB) recorded substantial inflows.&nbsp; 
Despite starting June with zero flows, BlackRock has attracted a total of $946 million in inflows over the past four days. The Spot Bitcoin ETF received $274 million on June 4 and $155 million on June 5. Additionally, on June 6 and 7, IBIT saw inflows of $349.9 million and $168.3 million, respectively.&nbsp; 
Featured image from Getty Images, chart from TradingView

BlackRock Amplifies Its BTC Bet As Spot Bitcoin ETF AUM Barrels Past $21 Billion

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