Recent data reveals that BlackRock, the world’s largest asset manager, has now become the leader in crypto exchange-traded fund (ETF) holdings, surpassing Grayscale.
BlackRock’s Crypto ETF Dominance Compared to Grayscale
According to a post by crypto intelligence platform Arkham, BlackRock has overtaken Grayscale in total crypto ETF holdings. Arkham’s data shows that BlackRock’s ETFs hold $21.2 billion in assets under management (AUM), while Grayscale’s ETFs manage slightly less, with $21.2 billion in AUM.
BlackRock achieved this position with just two funds, IBIT (spot Bitcoin ETF) and ETHA (spot Ethereum ETF), while Grayscale offers four funds: GBTC (spot Bitcoin ETF), BTC Mini, ETHE (spot Ethereum ETF) and ETH Mini. However, Grayscale still holds a higher overall balance due to its GDLC fund, which is not classified as an ETF and has $460 million in AUM.
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Since its launch in January, BlackRock’s IBIT has been a standout performer in the ETF market. Nate Geraci, president of The ETF Store, noted that the iShares Bitcoin ETF (IBIT) has experienced only one day of outflows since its debut in early 2024.
In contrast, the Grayscale Bitcoin Trust (GBTC) has seen only 12 days of inflows since its launch, resulting in a net outflow of $19.65 billion. This trend has significantly contributed to Grayscale losing its top position in AUM to BlackRock.
This shift is further emphasized by recent moves from investment banks like Morgan Stanley and Goldman Sachs, which have disclosed significant holdings in the iShares Bitcoin ETF. Morgan Stanley, in particular, has nearly divested its $270 million position in GBTC shares.
Performance of Bitcoin and Ethereum ETFs
While spot Bitcoin ETFs have shown positive performance recently, their Ethereum counterparts have struggled. Despite a strong start to the week with three consecutive days of inflows, spot Ethereum ETFs ended Friday with a cumulative net outflow of $14.17 million.
In contrast, Bitcoin ETFs recorded a net inflow of $32.57 million over the past week, highlighting the stronger acceptance of Bitcoin funds compared to the recently launched Ethereum products, especially in the months following their introduction.
The price of Bitcoin exactly at the $60,000 mark on the daily timeframe
Cre: Bitcoinlist
I’m Jessi Lee, currently living in Singapore. I am currently working as a trader for AZCoin company, with 5 years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
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