BlackRock’s ETF Overtakes Grayscale, Becomes Top Global Bitcoin Fund With $20B In Assets

In a significant development for the cryptocurrency market, BlackRock’s iShares Bitcoin Trust has become the largest fund dedicated to Bitcoin, accumulating nearly $20 billion in total assets since its US listing earlier this year.

Bloomberg data reveals that as of Tuesday, the exchange-traded fund held $19.68 billion worth of Bitcoin, surpassing Grayscale Bitcoin Trust’s (GBTC) $19.65 billion position. Fidelity Investments’ offering is the third-largest fund with $11.1 billion in assets

BlackRock’s iShares Bitcoin Trust Leads Inflows

The launch of the BlackRock and Fidelity Bitcoin ETFs, alongside seven others, on January 11 marked a pivotal moment for the crypto industry. Simultaneously, the Grayscale vehicle, operating for over a decade, transitioned into an ETF.

These developments significantly increased Bitcoin’s accessibility for institutional and retail investors and triggered a rally in the world’s largest cryptocurrency price, which soared to a record high of $73,700 on March 14.