According to the latest data, the world’s largest asset manager BlackRock has added another feather to its cap, becoming the company with the largest crypto exchange-traded fund (ETF) holdings.
Crypto intelligence platform Arkham revealed in a post on X that BlackRock has usurped Grayscale to become the asset management firm with the largest crypto ETF holdings. Data from Arkham shows that BlackRock’s exchange-traded funds boast $21,217,107,987, while Grayscale’s ETFs has $21,202,480,698 worth of crypto assets under management (AUM).
The trillion-dollar asset manager was able to take this position with its two funds, IBIT (spot Bitcoin ETF) and ETHA (spot Ethereum ETF), despite Grayscale offering four funds; GBTC (spot Bitcoin ETF), BTC Mini, ETHE (spot Ethereum ETF), and ETH Mini. It is worth noting, though, that the Grayscale entity still has a higher balance than BlackRock due to the GDLC fund, which is not an ETF and has $460 million in AUM.
Since the Bitcoin exchange-traded fund launched in January, BlackRock’s IBIT has unsurprisingly been one of the strongest performers in the ETF market. In a recent post on X, The ETF Store president Nate Geraci revealed that the iShares Bitcoin ETF (IBIT) has had only one day of outflows since its debut in early 2024.
https://twitter.com/NateGeraci/status/1824630088945537191?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank
In contrast, the Grayscale Bitcoin Trust (GBTC) has only had 12 days of inflows since launching, culminating in a total net outflow of $19.65 billion. This trend played a major part in Grayscale losing the top position in terms of AUM to BlackRock.
This is further highlighted by the recent moves by investment banks Morgan Stanley and Goldman Sachs, who disclosed their substantial holdings of the iShares Bitcoin ETF. Morgan Stanley, specifically, revealed that it had nearly dumped all its almost $270 million position in the GBTC shares.
While the spot Bitcoin ETFs put in a positive performance in the past week, their Ethereum counterparts have failed to make their mark. Despite starting the week strongly with three consecutive days of inflow, the spot Ethereum ETFs closed on Friday with a cumulative net outflow of $14.17 million.
Bitcoin ETFs, on the other hand, recorded a total net inflow of $32.57 million in the past week. This disparity in capital flow basically underscores the difference in the acceptance of the Bitcoin funds and the recently launched Ethereum products, especially in the months following their debut.
The price of Bitcoin exactly at the $60,000 mark on the daily timeframe | Source: BTCUSDT chart TradingView
Featured image from Getty Images, chart from TradingView
DeFi Wallets Unmasked: Your Key to Financial Sovereignty in the Crypto Wild West DeFi wallets…
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The Head…
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Australia’s financial…
Chris Toomey, a managing director at Morgan Stanley, thinks the market hasn’t priced in the…
Curious about stablecoins and how they fit into the crypto world? This guide breaks down…
Last week, Donald Trump’s delay on European tariffs marked the return of the bullish rally…