BlackRock’s spot bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), has overtaken Grayscale’s Bitcoin Trust (GBTC) as the world’s largest Bitcoin ETF.

As of May 28, IBIT holds over $20 billion in assets with 288,670 Bitcoin in its trust. This surpasses GBTC’s $19.7 billion in assets and 287,450 bitcoin holdings.

JUST IN: BlackRock's spot #Bitcoin ETF $IBIT passes GBTC to become the largest Bitcoin ETF in the world. pic.twitter.com/b9hgfZLmY7

— Bitcoin Magazine (@BitcoinMagazine) May 29, 2024

The flipping of fortunes comes just months after both ETFs launched on the same day in January amid a wave of SEC-approved bitcoin ETFs hitting the market. While GBTC bled funds, IBIT…

Read more on BitcoinMagazine

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.

Data