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BlackRock's Bitcoin ETF Overtakes Grayscale, Fastest to $20B Amid 13-Day Inflow Surge

May 30, 2024, 02:59 PM

BlackRock's Bitcoin ETF, IBIT, has overtaken Grayscale's GBTC as the leading Bitcoin ETF in terms of assets under management. BlackRock now holds 289,035 BTC, valued at approximately $19.5 billion, surpassing Grayscale's 287,443 BTC. This shift comes amid a surge in inflows for Bitcoin ETFs, with BlackRock's IBIT gaining $24.6 million and Fidelity's FBTC gaining $17.7 million on May 29 alone. The total net inflows for US Bitcoin ETFs on May 29 were $28.3 million, marking the 12th consecutive day of positive flows. This trend continued on May 30, with net inflows reaching $48.8 million, driven by Fidelity's $119.1 million inflow. BlackRock's IBIT has become the fastest ETF to reach $20 billion in assets and now has 414 reported holders. Combined, BlackRock and Fidelity own 451,338 BTC worth $30.9 billion. The overall positive momentum has resulted in 13 consecutive days of net inflows for US Bitcoin ETFs, totaling over $13.8 billion.