[{"category":{"name":"Trending News","exported_url":"trending-news"},"id":"f61f1c77-8e8c-4bb5-8044-ae77f7dfb493","updated_at":"2024-05-30T04:52:21.595+00:00","account":{"firstName":"Mason","lastName":"Thompson"},"description":"BlackRock made history when its iShares Bitcoin Trust (IBIT) became the largest spot Bitcoin exchange-traded fund in the world.","sapo":"In an exciting development for the crypto industry, BlackRock's iShares Bitcoin Trust (IBIT) has surpassed Grayscale's Bitcoin Trust (GBTC) to become the world's largest spot Bitcoin ETF, amassing $20 billion worth of Bitcoin in just over 100 days.","title":"Blackrock's ETF Surges Past Grayscale, Becomes Global Largest Bitcoin Fund","content":"

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BlackRocks Flips Grayscale as Largest BTC ETF Holder In Just 100 Days

According to latest data from financial research platform SoSoValue, BlackRock’s IBIT currently stands at $19.48 billion in net assets while Grayscale’s GBTC falls behind at $19.28 billion.

sosovalue ibit vs gbtc

Source: sosovalue.xyz

This milestone was achieved only 96 days after the first Bitcoin ETFs were approved by the US Securities and Exchange Commission (SEC) in January. This event not only highlights BlackRock’s influence in the crypto space as a major asset manager but also reflects a surging acceptance of the Bitcoin ETF market.

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Many attribute the decline in appeal of GBTC to its additional 1.5% fee, considerably higher than that of its competitors whose charges hover below 1%. As a result, investors are more inclined to explore ETF opportunities from cheaper alternatives, such as BlackRock's IBIT.

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BlackRock is one of the largest asset managers globally with over $10 trillion in assets under its management. The firm offers a wide range of financial products and services, including investment management, risk management, and advisory services for institutional and retail clients. Recently, BlackRock has made significant strides in the cryptocurrency market, with its Bitcoin exchange-traded fund becoming the largest in the world.

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","tags":[{"tag":{"tag":"Bitcoin","id_tag":"bitcoin"}},{"tag":{"tag":"BTC","id_tag":"btc"}},{"tag":{"tag":"Bitcoin ETF","id_tag":"bitcoin-etf"}}],"image":{"fileName":"blackrock tops bitcoin etf.png"}}]

Blackrock's ETF Surges Past Grayscale, Becomes Global Largest Bitcoin Fund

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