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BlackRock's iShares Surpasses Grayscale as Largest Digital Asset Fund Manager with $21.2 Billion in ETFs

Aug 16, 2024, 11:11 AM

BlackRock's iShares has surpassed Grayscale to become the largest digital asset fund manager by total assets under management (AUM). This shift is attributed to the gains in BlackRock's Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs), specifically the IBIT and ETHA funds, which have overtaken Grayscale's GBTC, BTC Mini, ETHE, and ETH Mini in on-chain holdings. BlackRock's ETFs now hold the largest collective holdings of any provider, with a reported $21.2 billion in assets. This marks the first time BlackRock has surpassed Grayscale in this sector, a transition that occurred more quickly than expected according to CoinShares' Research Head, James Butterfill.