Blackrock, the world’s largest asset manager has surpassed Grayscale in digital assets under management, hitting $21.2 billion in assets held across its Bitcoin Exchange Traded Funds (IBIT) and Ethereum Exchange Traded Funds (ETHA).
Blackrock recently surpassed Grayscale which has always led in terms of digital assets under management to record a new milestone that cemented Blackrock’s position as the world’s largest asset manager and now the financial institution with the highest digital assets under management across its funds.
The above data was revealed by Blockchain analytics firm, Arkham Intelligence which pointed out that Blackrock’s two funds IBIT and ETHA now hold more digital assets than Grayscale’s Four funds which include GBTC, BTC Mini, ETHE, and ETH mini,
“BLACKROCK ETF HOLDINGS OVERTAKE GRAYSCALE FOR THE FIRST TIME
BlackRock’s ETFs IBIT and ETHA have just overtaken Grayscale’s ETFs GBTC, BTC Mini, ETHE, and ETH Mini in on-chain holdings.
Blackrock ETFs now have the largest collective holdings of any provider. BlackRock ETF Holdings: $21,217,107,987
Grayscale ETF Holdings: $21,202,480,698″ Arkham Intelligence tweeted
Institutional Investment
Recent reports reveal that several traditional financial institutions have increased their investment in BlackRock’s ETF shares recently.
Morgan Stanley recently disclosed that it had sold nearly its complete $269.9 million position in GBTC and now holds 5.5 million shares of IBIT, worth about $187.1 million at current prices.
Goldman Sachs last week revealed its ETF investment positions stating that it currently holds about 7 million IBIT shares which are worth nearly $235 million in current prices.
Goldman Sachs however shared his portfolio as it also holds about $150 million in shares of other spot Bitcoin ETF and about $35 million worth of Grayscale’s converted fund.
Nate Geraci, CEO of investment advisor of the ETF store detailed that Blackrock’s IBIT spot Bitcoin ETF has only had one day of net outflows since launch.
The CEO shared his findings on X with an infographic to back up his claims.
“iShares Bitcoin ETF has *one* day of outflows since launching in January… One day. $20.5bil inflows. Top launch of 2024. This is exactly what “no demand” looks like.” Nate tweeted.
Data from Farside Investors UK backed up these claims proving that indeed Blackrock’s IBIT has only recorded one day of outflow although it has recorded 26 days of zero net inflows.
What to know
- Amongst the 12 spot Bitcoin ETFs Blackrock’s IBIT holds a significant lead ahead of Grayscale’s spot Bitcoin ETFs.
- The case is not the same amongst the 9 spot Ethereum ETFs where Blackrock’s ETHA is the third largest fund.
- Blackrock’s CEO Larry Fink has recently classified Bitcoin as a viable asset explaining his company’s heavy investment in it.
