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 worldâs largest crypto ETF manager in terms of total assets under management (AUM).
BlackRockâs Rapid Ascent
According to data from Arkham, the total AUM of BlackRockâs two ETFs has reached $21.6 billion, surpassing the $21.3 billion AUM of Grayscaleâs four crypto ETFs (GBTC, BTC Mini, ETHE, and ETH Mini). This is an incredible achievement, especially considering the relatively short operation period of BlackRockâs ETFs.
Since the SEC approved Bitcoin spot ETFs, BlackRockâs IBIT has only recorded one outflow day. This is a remarkable achievement, demonstrating BlackRockâs strong appeal in the crypto ETF market.