BlackRock’s iShares Bitcoin Trust has become the world’s largest fund for the world’s largest cryptocurrency, racking up nearly $20 billion in total assets since listing in the U.S. in January, Bloomberg News reported on Wednesday.
The exchange-traded fund held $19.68 billion of token on Tuesday, overtaking Grayscale Bitcoin Trust’s $19.65 billion, according to the data compiled by Bloomberg. The third largest bitcoin ETF is the $11.1 billion offering from Fidelity Investments.
The BlackRock and Fidelity bitcoin ETFs were among nine that debuted on January 11th, the same day the more than decade-old Grayscale vehicle converted into an ETF. At that moment, Grayscale’s fund had about $29 billion in assets.
The iShares Bitcoin Trust has attracted the greatest inflow since going live, $16.5 billion, while investors have pulled $17.7 billion from the Grayscale fund over the same period.
The Securities and Exchange Commission, which is led by crypto skeptic Gary Gensler, had rejected spot bitcoin ETFs for more than a decade over market manipulation worries, but approved them in January after Grayscale Investments won a court challenge last year.
The post BlackRock’s bitcoin ETF becomes the largest bitcoin fund in world appeared first on Crypto Reporter.
