BlackRock Became the Bitcoin Leader, Leaving Its Biggest Rival Behind!

BlackRock, the world's largest asset manager, has become the leader in spot Bitcoin ETFs.

BlackRock's spot Bitcoin exchange-traded fund IBIT has taken the leadership seat, leaving behind its biggest rival Grayscale's GBTC. While BlackRock's IBIT recorded an inflow of $102.5 million on May 28, GBTC also saw an outflow of $105 million.

With the latest change in balance, BlackRock owns $19.68 billion worth of Bitcoin, while Grayscale fell to second place with $19.65 billion worth of Bitcoin. Fidelity ranked third with $11.1 billion.

Grayscale's fund had managed to maintain its peak since January 10, when spot Bitcoin ETFs were first approved. But the fund, which saw regular outflows, could no longer remain a leader. On the other hand, BlackRock's fund has managed to be among the most popular spot ETFs since the first day.