{"id":610664,"date":"2024-05-30T16:00:23","date_gmt":"2024-05-30T16:00:23","guid":{"rendered":"https:\/\/wncen.com\/?p=610664"},"modified":"2024-06-11T07:00:27","modified_gmt":"2024-06-11T07:00:27","slug":"blackrock-largest-bitcoin-fund","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/blackrock-largest-bitcoin-fund\/","title":{"rendered":"BlackRock Overtakes Grayscale To Become The Largest Bitcoin Fund In The World With $20 Billion AUM"},"content":{"rendered":"

American multinational investment company <\/span>BlackRock,<\/span> has recently achieved a monumental milestone, <\/span>recording<\/span><\/a> over $20 billion in total assets. The BlackRock Spot Bitcoin ETF has successfully surpassed Grayscale to become the <\/span>largest Bitcoin fund<\/span><\/a> in the world.\u00a0<\/span><\/p>\n

BlackRock Overtakes Grayscale\u00a0<\/b><\/h2>\n

BlackRock iShares Bitcoin Trust has recently become the world\u2019s largest Bitcoin fund, overtaking its primary rival, <\/span>Grayscale Bitcoin Trust (GBTC)<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Open Interest Explodes 85% Amid 15% Price Jump, Why This Is Important<\/a><\/div>\n

As of Tuesday, May 28, <\/span>BlackRock\u2019s Spot Bitcoin ETF<\/span><\/a> held around $19.68 billion in Assets Under Management (AUM), overthrowing Grayscale\u2019s Bitcoin ETF with $19.65 billion and surpassing the third largest, <\/span>Fidelity Investments<\/span><\/a>, which recorded $11.1 billion in AUM. <\/span>Over the past two days, BlackRock has recorded more inflows, pushing its AUM to more than $20 billion presently.\u00a0<\/span><\/p>\n

Following the launch of its Spot Bitcoin ETF on January 11, Grayscale has consistently <\/span>recorded massive outflows<\/span><\/a> worth billions of dollars. For years, the asset management company was the world\u2019s largest Bitcoin fund, reaching a peak of about $44 billion in 2021.\u00a0<\/span><\/p>\n

However, since its conversion into an ETF at the beginning of 2024, investors have pulled out almost $18 billion from Grayscale\u2019s Bitcoin fund. On May 3, <\/span>GBTC recorded its first inflow<\/span><\/a>, receiving approximately $63 million, and effectively ending its 82-day streak of outflows.\u00a0<\/span><\/p>\n

Its previous outflows had already significantly weakened Grayscale\u2019s position as the largest Bitcoin ETF. In contrast, BlackRock\u2019s Spot Bitcoin ETF has been <\/span>recording millions of inflows<\/span><\/a> since its launch, making it unsurprising that IBIT has eventually surpassed Grayscale\u2019s GBTC.<\/span><\/p>\n

BlackRock has only recorded a handful of outflows and minimal <\/span>zero flows<\/span><\/a>. Its highest recorded inflow occurred on March 12, with IBIT gathering approximately $849 million in a single day. Additionally, BlackRock\u2019s 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.\u00a0<\/span><\/p>\n

Investors are likely favoring BlackRock\u2019s 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 <\/span>highest ETF management fees<\/span><\/a> among all the\u00a0<\/span>11 approved United States Spot Bitcoin ETFs.\u00a0<\/span><\/p>\n

While the asset management company has <\/span>promised to slash fees<\/span><\/a>, Grayscale\u2019s Bitcoin Trust’s current ETF management fees remain as high as 1.5% annually.<\/span><\/p>\n

Still Leading Spot Bitcoin ETF Net Inflows<\/h2>\n

According to <\/span>Farside data<\/span><\/a>, for the past week, BlackRock has been <\/span>leading the Spot Bitcoin ETF race<\/span><\/a>, recording the most inflows out of the 11 Spot Bitcoin ETFs.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Price Prediction: SHIB Shows Unusually High Strength Against Dogecoin<\/a><\/div>\n

Excluding May 27, when all <\/span>United States Spot Bitcoin ETFs<\/span><\/a> saw zero flows, BlackRock recorded a total of $127.1 million for the first two days. BlackRock\u2019s Bitcoin Trust saw $102.5 million in inflows on Wednesday, while Grayscale\u2019s Spot Bitcoin ETF witnessed outflows of $105.2 million. <\/span>Currently, Grayscale is still recording more outflows, losing $31.1 million as of writing.<\/span><\/p>\n

\"Bitcoin
BTC price recovers above $68,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

American multinational investment company BlackRock, has recently achieved a monumental milestone, recording over $20 billion in total assets. The BlackRock Spot Bitcoin ETF has successfully surpassed Grayscale to become the largest Bitcoin fund in the world.\u00a0 BlackRock Overtakes Grayscale\u00a0 BlackRock iShares Bitcoin Trust has recently become the world\u2019s largest Bitcoin fund, overtaking its primary rival, Grayscale Bitcoin Trust (GBTC).\u00a0 Related Reading: Shiba Inu Open Interest Explodes 85% Amid 15% Price Jump, Why This Is Important As of Tuesday, May 28, BlackRock\u2019s Spot Bitcoin ETF held around $19.68 billion in Assets Under Management (AUM), overthrowing Grayscale\u2019s Bitcoin ETF with $19.65 billion and surpassing the third largest, Fidelity Investments, 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.\u00a0 Following the launch of its Spot Bitcoin ETF on January 11, Grayscale has consistently recorded massive outflows worth billions of dollars. For years, the asset management company was the world\u2019s largest Bitcoin fund, reaching a peak of about $44 billion in 2021.\u00a0 However, since its conversion into an ETF at the beginning of 2024, investors have pulled out almost $18 billion from Grayscale\u2019s Bitcoin fund. On May 3, GBTC recorded its first inflow, receiving approximately $63 million, and effectively ending its 82-day streak of outflows.\u00a0 Its previous outflows had already significantly weakened Grayscale\u2019s position as the largest Bitcoin ETF. In contrast, BlackRock\u2019s Spot Bitcoin ETF has been recording millions of inflows since its launch, making it unsurprising that IBIT has eventually surpassed Grayscale\u2019s GBTC. BlackRock has only recorded a handful of outflows and minimal zero flows. Its highest recorded inflow occurred on March 12, with IBIT gathering approximately $849 million in a single day. Additionally, BlackRock\u2019s 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.\u00a0 Investors are likely favoring BlackRock\u2019s 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 highest ETF management fees among all the\u00a011 approved United States Spot Bitcoin ETFs.\u00a0 While the asset management company has promised to slash fees, Grayscale\u2019s Bitcoin Trust’s current ETF management fees remain as high as 1.5% annually. Still Leading Spot Bitcoin ETF Net Inflows According to Farside data, for the past week, BlackRock has been leading the Spot Bitcoin ETF race, recording the most inflows out of the 11 Spot Bitcoin ETFs.\u00a0 Related Reading: Shiba Inu Price Prediction: SHIB Shows Unusually High Strength Against Dogecoin Excluding May 27, when all United States Spot Bitcoin ETFs saw zero flows, BlackRock recorded a total of $127.1 million for the first two days. BlackRock\u2019s Bitcoin Trust saw $102.5 million in inflows on Wednesday, while Grayscale\u2019s Spot Bitcoin ETF witnessed outflows of $105.2 million. Currently, Grayscale is still recording more outflows, losing $31.1 million as of writing. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":610665,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,7720,89670,92467,89215,89704,1119,89185,1122,1144,78790],"class_list":["post-610664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-blackrock","tag-blackrock-bitcoin","tag-blackrock-bitcoin-fund","tag-blackrock-news","tag-blackrock-spot-bitcoin-etf","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBlackRock Overtakes Grayscale To Become The Largest Bitcoin Fund In The World With $20 Billion AUM<\/title>\n<meta name=\"description\" content=\"The BlackRock Spot Bitcoin ETF has 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Matherson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","caption":"Scott Matherson"},"description":"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"BlackRock Overtakes Grayscale To Become The Largest Bitcoin Fund In The World With $20 Billion AUM","url":"http:\/\/wncen.com\/news\/blackrock-largest-bitcoin-fund\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/blackrock-largest-bitcoin-fund\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/BlackRock-Bitcoin.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/BlackRock-Bitcoin.jpeg?fit=1792%2C1024"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","blackrock","blackrock bitcoin","blackrock bitcoin fund","blackrock news","blackrock spot bitcoin etf","btc","btc news","btc price","btcusd","btcusdt"],"dateCreated":"2024-05-30T16:00:23Z","datePublished":"2024-05-30T16:00:23Z","dateModified":"2024-06-11T07:00:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"BlackRock Overtakes Grayscale To Become The Largest Bitcoin Fund In The World With $20 Billion AUM\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/blackrock-largest-bitcoin-fund\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/blackrock-largest-bitcoin-fund\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/BlackRock-Bitcoin.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/BlackRock-Bitcoin.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"blackrock\",\"blackrock bitcoin\",\"blackrock bitcoin fund\",\"blackrock news\",\"blackrock spot bitcoin etf\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2024-05-30T16:00:23Z\",\"datePublished\":\"2024-05-30T16:00:23Z\",\"dateModified\":\"2024-06-11T07:00:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/BlackRock-Bitcoin.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/610664"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=610664"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/610664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/610665"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=610664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=610664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=610664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}