BlackRock Dethrones Grayscale to Become the Largest Crypto Fund.
BlackRock Officially Surpasses Grayscale to Become the World's Largest Crypto Investment Fund Despite Just Launching IBIT and ETHA.
BlackRock, the asset management giant, made history in the crypto ETF market on August 18, 2024. With just two ETFs, IBIT (Bitcoin) and ETHA (Ethereum), BlackRock surpassed Grayscale to become the world’s largest crypto ETF manager in terms of total assets under management (AUM).
BlackRock’s Rapid Ascent
According to data from Arkham, the total AUM of BlackRock’s two ETFs has reached $21.6 billion, surpassing the $21.3 billion AUM of Grayscale’s four crypto ETFs (GBTC, BTC Mini, ETHE, and ETH Mini). This is an incredible achievement, especially considering the relatively short operation period of BlackRock’s ETFs.
Since the SEC approved Bitcoin spot ETFs, BlackRock’s IBIT has only recorded one outflow day. This is a remarkable achievement, demonstrating BlackRock’s strong appeal in the crypto ETF market.
