Bitcoin ETF

Supremacy

BlackRock

<h2 id="key-points">Key Points</h2>
<ul>
 <li>BlackRock’s IBIT fund is gradually closing the gap with Grayscale’s GBTC fund in terms of assets under management (AUM).</li>
 <li>Grayscale’s GBTC fund has been experiencing consistent capital outflows, while BlackRock’s fund has been seeing inflows.</li>
</ul>
<p>Three months have passed since spot bitcoin ETFs started trading, and BlackRock’s fund seems to be rapidly catching up with Grayscale’s.</p>
<h2 id="blackrock-s-steady-growth">BlackRock’s Steady Growth</h2>
<p>As per Trackinsight data, as of a recent Tuesday, BlackRock’s IBIT fund had $18.2 billion in AUM, while Grayscale’s fund had $23.2 billion.</p>
<p>Grayscale’s GBTC fund, which levies a higher fee than BlackRock’s, has been consistently losing capital since its inception. Conversely, BlackRock’s ETF has been gradually reducing the AUM gap.</p>
<h2 id="decline-in-grayscale-s-aum">Decline in Grayscale’s AUM</h2>
<p>Two months prior, Grayscale’s fund had about $23.4 billion in AUM compared to BlackRock’s $4.4 billion. Grayscale’s ETF, which started with nearly $30 billion in AUM, has been witnessing a decline in its AUM. This could be partly attributed to Genesis selling GBTC shares, according to Eric Balchunas, a senior ETF analyst at Bloomberg.</p>
<p>Grayscale’s fund has also been gradually losing market share in terms of trading volume, down from about 50% when the spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs were launched on Jan. 11 to 23.5% as of a recent Tuesday.</p>
<p>On a particular Tuesday, Grayscale’s fund experienced $154.9 million in outflows, while BlackRock’s fund received $128.7 million in inflows.</p>
<p>Fidelity’s spot bitcoin ETF is currently third in trading volume market share and AUM.</p>

BlackRock Steps Up Competition with Grayscale in the Fight for Bitcoin ETF Supremacy

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Alte articole publicate pe 10 apr. 2024

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