Bitrabo Editorial
BlackRock, the world’s largest asset manager, has topped the charts by acquiring the largest crypto exchange-traded fund (ETF) holdings recently.
Comparison of BlackRock’s ETFs with Grayscale’s Funds
Arkham, a crypto intelligence platform, revealed that BlackRock now holds $21,217,107,987 worth of crypto assets in its ETFs, surpassing Grayscale with $21,202,480,698 in their ETFs.
BlackRock achieved this with two funds, IBIT for Bitcoin and ETHA for Ethereum, despite Grayscale offering four funds. However, Grayscale still maintains a higher balance due to the GDLC fund, not an ETF, with $460 million in assets.
BlackRock’s IBIT has been performing well since its launch in January, with The ETF Store president Nate Geraci highlighting its success with minimal outflows and significant inflows.
Conversely, Grayscale’s Bitcoin Trust (GBTC) has experienced more outflows than inflows, resulting in a net outflow of $19.65 billion and contributing to BlackRock’s rise in AUM.
Investment banks like Morgan Stanley and Goldman Sachs have also shifted their focus to BlackRock’s iShares Bitcoin ETF, abandoning sizable positions in GBTC shares.
Bitcoin ETFs vs. ETH ETFs Performance
While Bitcoin ETFs saw positive trends last week, the Ethereum ETFs did not fare as well. Despite starting strong with inflows, the Ethereum ETFs closed the week with a net outflow of $14.17 million, unlike Bitcoin ETFs which saw a total net inflow of $32.57 million.
This disparity in capital flow reflects the varying acceptance levels of Bitcoin and Ethereum funds, especially post their respective launches.