Official financial reports from BlackRock or market analysis reports

BlackRock's Bitcoin ETF Surpasses Grayscale with $101.9 Million Inflow, Holding 288k BTC

May 29, 2024, 02:34 AM

BlackRock's Bitcoin ETF (IBIT) has officially surpassed Grayscale's Bitcoin Trust (GBTC) to become the largest Bitcoin ETF in the world. With a massive inflow of $101.9 million, IBIT now holds over 288,671 BTC. This milestone was achieved in less than 90 trading days, highlighting the rapid growth and investor confidence in BlackRock's ETF. On May 28, BlackRock's ETF saw a significant buy of 1505 BTC, equivalent to $102 million, while Grayscale experienced an outflow of 1550 BTC, worth $105 million. Fidelity's Bitcoin ETF also reported an inflow of 505 BTC, amounting to $34 million. The shift underscores the competitive dynamics in the Bitcoin ETF market and the growing dominance of BlackRock in this space. IBIT needed only 96 trading days to close GBTC's huge lead.