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BlackRock's Bitcoin and Ether ETFs Surpass Grayscale's Holdings for the First Time

In a significant shift within the cryptocurrency investment landscape, BlackRock's spot bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs) have overtaken Grayscale's products to become the largest crypto-focused publicly traded funds by assets under management (AUM).
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Dot
August 16, 2024
Dean Fankhauser

Dean has an economics and startup background which led him to create Bitcompare. He primarly writes opinion pieces for Bitcompare. He's also been a guest on BBC World, and interviewed by The Guardian and many other publications.

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In a significant shift within the cryptocurrency investment landscape, BlackRock's spot bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs) have overtaken Grayscale's products to become the largest crypto-focused publicly traded funds by assets under management (AUM).

For years, Grayscale has been a dominant force in the crypto investment space, particularly through its flagship Grayscale Bitcoin Trust (GBTC) and other crypto funds. However, as of Friday, data from the on-chain analytics tool Arkham revealed that BlackRock’s bitcoin ETF (IBIT) and ether ETF (ETHA) have surpassed Grayscale’s offerings. BlackRock’s ETFs now collectively hold over $21.217 billion in assets, slightly edging out Grayscale’s $21.202 billion, according to Arkham's analysis shared in a post on X.

This notable shift in market leadership has been driven by recent fund flows. Grayscale's GBTC, once the go-to product for institutional investors seeking bitcoin exposure, recorded significant outflows, with $25 million withdrawn just on Thursday. In contrast, BlackRock’s ETHA recorded net inflows of $740,000 on the same day, according to data from SoSoValue. Additionally, Grayscale’s ether-focused product, ETHE faced substantial outflows amounting to $42 million, highlighting a potential shift in investor preference towards BlackRock's products.

BlackRock’s rapid ascent in the ETF space is particularly remarkable considering that its bitcoin ETF, IBIT, was only launched in January of this year. Despite its recent entry, IBIT became the largest bitcoin ETF by assets under management as early as May and surpassed the $20 billion mark by June. This contrasts sharply with the performance of Grayscale's GBTC, which has seen its BTC holdings decrease by approximately $19.57 billion since January.

The rise of BlackRock's ETFs reflects a broader trend of increasing institutional interest in cryptocurrency investment products, particularly those that offer the regulatory clarity and ease of access that ETFs provide. With BlackRock now leading in terms of assets under management, the competitive landscape in the crypto ETF market is likely to see further developments as both companies continue to vie for investor capital.

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Warning: The price of digital assets can be volatile. The value of your investment can go down or up, and you may not get back the amount invested. You are the only one who is responsible for the money you invest, and Bitcompare is not responsible for any losses you might have. Any APR shown is a rough estimate of how much cryptocurrency you will earn in rewards over the time period you choose. It does not display the actual or predicted returns or yields in any fiat currency. The APR is adjusted daily, and the estimated rewards may differ from the actual rewards generated. The information on this page is not meant to be a sign from Bitcompare that the information is correct or reliable. Before making any investment, you should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult with an independent financial advisor. Links to third-party sites are not under the control of Bitcompare, and we are not responsible for the reliability or accuracy of such sites or their contents. For more information, see the Terms of Service for Bitcompare and our Risk Warning.

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August 16, 2024

BlackRock's Bitcoin and Ether ETFs Surpass Grayscale's Holdings for the First Time

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In a significant shift within the cryptocurrency investment landscape, BlackRock's spot bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs) have overtaken Grayscale's products to become the largest crypto-focused publicly traded funds by assets under management (AUM).

For years, Grayscale has been a dominant force in the crypto investment space, particularly through its flagship Grayscale Bitcoin Trust (GBTC) and other crypto funds. However, as of Friday, data from the on-chain analytics tool Arkham revealed that BlackRock’s bitcoin ETF (IBIT) and ether ETF (ETHA) have surpassed Grayscale’s offerings. BlackRock’s ETFs now collectively hold over $21.217 billion in assets, slightly edging out Grayscale’s $21.202 billion, according to Arkham's analysis shared in a post on X.

This notable shift in market leadership has been driven by recent fund flows. Grayscale's GBTC, once the go-to product for institutional investors seeking bitcoin exposure, recorded significant outflows, with $25 million withdrawn just on Thursday. In contrast, BlackRock’s ETHA recorded net inflows of $740,000 on the same day, according to data from SoSoValue. Additionally, Grayscale’s ether-focused product, ETHE faced substantial outflows amounting to $42 million, highlighting a potential shift in investor preference towards BlackRock's products.

BlackRock’s rapid ascent in the ETF space is particularly remarkable considering that its bitcoin ETF, IBIT, was only launched in January of this year. Despite its recent entry, IBIT became the largest bitcoin ETF by assets under management as early as May and surpassed the $20 billion mark by June. This contrasts sharply with the performance of Grayscale's GBTC, which has seen its BTC holdings decrease by approximately $19.57 billion since January.

The rise of BlackRock's ETFs reflects a broader trend of increasing institutional interest in cryptocurrency investment products, particularly those that offer the regulatory clarity and ease of access that ETFs provide. With BlackRock now leading in terms of assets under management, the competitive landscape in the crypto ETF market is likely to see further developments as both companies continue to vie for investor capital.

Bitcoin ETF
Ethereum ETF
Dean Fankhauser

Dean has an economics and startup background which led him to create Bitcompare. He primarly writes opinion pieces for Bitcompare. He's also been a guest on BBC World, and interviewed by The Guardian and many other publications.

in

In a significant shift within the cryptocurrency investment landscape, BlackRock's spot bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs) have overtaken Grayscale's products to become the largest crypto-focused publicly traded funds by assets under management (AUM).

For years, Grayscale has been a dominant force in the crypto investment space, particularly through its flagship Grayscale Bitcoin Trust (GBTC) and other crypto funds. However, as of Friday, data from the on-chain analytics tool Arkham revealed that BlackRock’s bitcoin ETF (IBIT) and ether ETF (ETHA) have surpassed Grayscale’s offerings. BlackRock’s ETFs now collectively hold over $21.217 billion in assets, slightly edging out Grayscale’s $21.202 billion, according to Arkham's analysis shared in a post on X.

This notable shift in market leadership has been driven by recent fund flows. Grayscale's GBTC, once the go-to product for institutional investors seeking bitcoin exposure, recorded significant outflows, with $25 million withdrawn just on Thursday. In contrast, BlackRock’s ETHA recorded net inflows of $740,000 on the same day, according to data from SoSoValue. Additionally, Grayscale’s ether-focused product, ETHE faced substantial outflows amounting to $42 million, highlighting a potential shift in investor preference towards BlackRock's products.

BlackRock’s rapid ascent in the ETF space is particularly remarkable considering that its bitcoin ETF, IBIT, was only launched in January of this year. Despite its recent entry, IBIT became the largest bitcoin ETF by assets under management as early as May and surpassed the $20 billion mark by June. This contrasts sharply with the performance of Grayscale's GBTC, which has seen its BTC holdings decrease by approximately $19.57 billion since January.

The rise of BlackRock's ETFs reflects a broader trend of increasing institutional interest in cryptocurrency investment products, particularly those that offer the regulatory clarity and ease of access that ETFs provide. With BlackRock now leading in terms of assets under management, the competitive landscape in the crypto ETF market is likely to see further developments as both companies continue to vie for investor capital.

Written by
Dean Fankhauser
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© 2024 Bitcompare
A Blu.Ventures companyAdvertisePolicyTerms of UseSitemap

Bitcompare.net is a trading name of Tokentalk Ltd. Registered in England No. 11332964. Registered Office: Unit 3 Mitcham Industrial Estate, 85 Streatham Road, Mitcham, United Kingdom, CR4 2AP.

Advertiser disclosure: Bitcompare is a comparison engine that relies on advertising for funding. The business opportunities that can be found on this site are offered by companies with which Bitcompare has made deals. This relationship may affect the way and where products appear on the site, such as in what order they are listed in categories. Information about products may also be placed based on other factors, such as the ranking algorithms on our website. Bitcompare does not look at or list all companies or products on the market.
‍
Editorial disclosure: The editorial content on Bitcompare is not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. The opinions expressed here are the author’s alone. Additionally, the opinions expressed by the commenters do not necessarily reflect those of Bitcompare or its staff. When you leave a comment on this site, it will not show up until a Bitcompare administrator approves it.

Warning: The price of digital assets can be volatile. The value of your investment can go down or up, and you may not get back the amount invested. You are the only one who is responsible for the money you invest, and Bitcompare is not responsible for any losses you might have. Any APR shown is a rough estimate of how much cryptocurrency you will earn in rewards over the time period you choose. It does not display the actual or predicted returns or yields in any fiat currency. The APR is adjusted daily, and the estimated rewards may differ from the actual rewards generated. The information on this page is not meant to be a sign from Bitcompare that the information is correct or reliable. Before making any investment, you should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult with an independent financial advisor. Links to third-party sites are not under the control of Bitcompare, and we are not responsible for the reliability or accuracy of such sites or their contents. For more information, see the Terms of Service for Bitcompare and our Risk Warning.