BlackRock Surpasses Biggest Rival in Bitcoin and Ethereum

BlackRock, the world’s largest asset manager, has surpassed crypto giant Grayscale for the first time.

BlackRock’s spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds have surpassed Grayscale Investments in terms of assets under management.

BlackRock’s funds have become the largest publicly traded funds in the cryptocurrency market.

BlackRock’s Bitcoin ETF IBIT and Ethereum ETF ETHA have surpassed Grayscale’s GBTC, BTC Mini, ETHE and ETH Mini funds.

BlackRock’s ETFs now hold the largest collective holdings of any provider, according to a post on the X platform by on-chain analytics platform Arkham.

As of Friday, BlackRock’s ETFs were under management for more than $21.217 billion in total assets, while Grayscale’s ETFs were worth $21.202 billion.

The ETF data shows that GBTC saw an outflow of $25 million on Thursday, while BlackRock saw no net inflows or outflows. Grayscale’s ETHE saw a net outflow of $42 million, while BlackRock’s ETHA saw a net inflow of $740,000.

IBIT became the largest Bitcoin ETF in terms of assets under management in May, surpassing $20 billion in June. Grayscale’s GBTC has lost $19.57 billion worth of BTC since January.

Important Note: Friends, Binance has launched a reward event worth 50,000$ . You can now benefit from the reward by clicking on the AI ​​account and scoring it from the “Vote” option.

The event ends on August 29th. You can benefit from rewards worth 50,000$ by voting every day until August 29th.