$21.217 billion: Bitcoin ETF’s largest manager changes hands
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$21.217 billion: Bitcoin ETF’s largest manager changes hands
It is worth noting that since the GDLC fund is not an ETF, Grayscale's entity balance remains higher than BlackRock's.
Navigating Web3 tides with focused insightsSource: bitcoinist
Translation: Blockchain Knight
Latest data shows that BlackRock, the world's largest asset management firm, has added a new title—becoming the company with the most crypto ETFs.
A post on X by crypto intelligence platform Arkham revealed that BlackRock has surpassed Grayscale to become the asset manager holding the largest number of crypto asset ETFs.
According to Arkham’s data, BlackRock’s ETFs hold $21.2171 billion, while Grayscale’s ETFs manage $21.20248 billion in crypto assets under management (AUM).
Despite Grayscale offering four funds—GBTC, BTC Mini, spot ETH ETF, and ETH Mini—BlackRock still took the lead thanks to its IBIT and ETHA.
It is worth noting that because GDLC is not an ETF, Grayscale’s total holdings—including the $460 million AUM from GDLC—remain higher than BlackRock’s overall balance.
Since the launch of BTC ETFs in January, BlackRock’s IBIT has unsurprisingly emerged as one of the strongest-performing funds in the ETF market.
Nate Geraci, president of The ETF Store, recently revealed on X that iShares’ IBIT experienced outflows on only one day since its debut at the beginning of 2024.
In contrast, Grayscale’s GBTC saw inflows on just 12 days since launch, with total net outflows reaching $19.65 billion.
This trend is the primary reason why Grayscale’s Bitcoin trust fund lost ground to BlackRock in terms of AUM.
Recently, investment banks Morgan Stanley and Goldman Sachs disclosed substantial holdings in iShares’ BTC ETF, further highlighting this shift. Notably, Morgan Stanley revealed it had nearly sold off its entire GBTC position valued at close to $270 million.
Although spot BTC ETFs performed positively over the past week, Ethereum ETFs failed to gain traction.
Last week, Ethereum ETFs saw strong inflows for three consecutive days, but closed Friday with a cumulative net outflow of $14.17 million.
Meanwhile, BTC ETFs recorded a total net inflow of $32.57 million over the past week.
This disparity in capital flows essentially highlights the difference in adoption between BTC funds and the recently launched Ethereum products, especially in the months following their respective launches.
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