BlackRock's IBIT Surpasses Grayscale's GBTC as Largest Spot Bitcoin ETF on May 28th

May 29, 2024, 06:53 AM

BlackRock's spot Bitcoin ETF, IBIT, has officially surpassed Grayscale's GBTC to become the largest Bitcoin ETF in the world. This shift occurred on May 28th with a significant inflow of $101.9 million into IBIT, which now holds over 288,671 BTC. The transition took place in less than 90 trading days, with IBIT's assets under management reaching nearly $20 billion. Meanwhile, GBTC experienced $105 million in outflows, reducing its holdings to $19.7 billion. This development marks a significant milestone in the competitive landscape of Bitcoin ETFs, especially as futures dumped.