BlackRock’s cryptocurrency exchange-traded funds have surpassed Grayscale’s products in total assets under management, according to Arkham Intelligence data.
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… pic.twitter.com/PB41LEGc97
— Arkham (@ArkhamIntel) August 16, 2024
Just two BlackRock funds — IBIT and ETHA — have reached an AUM of $21.21 billion, making the asset management giant a leader in the sector.
Grayscale has four cryptocurrency ETFs — GBTC, BTC Mini, ETHE, and ETHE Mini. Their AUM amounts to $21.20 billion.
Nate Geraci, President of The ETF Store, noted that since the launch of BlackRock’s bitcoin ETF in January, it has experienced a net outflow on only one day — May 1 (-$36.93 million).
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.
via @thomas_fahrer pic.twitter.com/k11aDKGudM
— Nate Geraci (@NateGeraci) August 17, 2024
His observations are confirmed by data from SoSoValue.
While IBIT significantly leads in the first cryptocurrency segment, BlackRock’s ETHA ranks third among Ethereum ETFs with a figure of $845.5 million.
Earlier, investment bank Goldman Sachs and trading firm DRW Holdings reported in filings to the SEC the addition of cryptocurrency-related exchange-traded funds to their portfolios.
According to Bitwise, from April to June, 44% of asset managers increased their investments in spot bitcoin ETFs. Another 22% maintained their previous position size.
Back in July, asset manager Franklin Templeton filed an S-1 application for a “dual” crypto ETF. At the end of July, Hashdex submitted a similar document.