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BlackRock’s iShares Bitcoin Trust (IBIT) has overtaken the Grayscale Bitcoin Trust to become the largest spot Bitcoin ETF globally, according to recent data. On May 28, IBIT saw an influx of $102.5 million, contrasting with a $105 million outflow from GBTC. Now, BlackRock holds a total of 288,670 Bitcoin, slightly more than Grayscale’s 287,450 Bitcoin. Industry experts note this shift marks a significant milestone in the cryptocurrency investment landscape.
A Bloomberg report highlighted that as of May 29, BlackRock’s fund amassed $19.68 billion in Bitcoin, narrowly surpassing Grayscale’s $19.65 billion. The surge in BlackRock’s Bitcoin assets reflects a broader acceptance and growing trust in cryptocurrency investments among traditional investors.
Recent SEC filings reveal that BlackRock’s own income and bond funds are investing in IBIT, signifying a strong institutional backing for the ETF. This growing support, coupled with BlackRock’s dominance in ETF inflows, underscores the increasing integration of Bitcoin into mainstream finance.
