The largest manager of the $21.217 billion BTC ETF changes hands

Source: Blockchain Knight

The latest data shows that BlackRock, the world's largest asset management company, has added a new member and has become the company with the most Crypto ETFs.

In an article published on X, Crypto asset intelligence platform Arkham revealed that BlackRock has replaced Grayscale as the asset management company with the largest number of Crypto asset ETFs.

According to Arkham's data, BlackRock's ETF has $21.2171 billion, while Grayscale's ETF manages $21.2248 billion worth of Crypto assets (AUM).

Although Grayscale offers four funds: GBTC, BTC Mini, Spot ETH ETF, and ETH Mini, BlackRock still occupies the first position with its IBIT and ETHA.

It is worth noting that Since the GDLC fund is not an ETF and its AUM is $460 million, the Grayscale entity still has a higher balance than BlackRock.

Since the launch of the BTC ETF in January, BlackRock’s IBIT has unsurprisingly been one of the strongest performing funds in the ETF market.

In a recent article published on X, Nate Geraci, president of The ETF Store, revealed that the iShares IBIT has only had one day of outflows since its launch in early 2024.

In contrast, Grayscale’s GBTC has only had 12 days of inflows since its launch, with a total net outflow of $19.65 billion.

This trend is the main reason why the Grayscale BTC Trust has lost to BlackRock in terms of assets under management.

This was further highlighted recently when investment banks Morgan Stanley and Goldman Sachs revealed their large holdings in the iSharesBTC ETF. In particular, Morgan Stanley revealed that it had sold almost all of its nearly $270 million GBTC stock position.

While the spot BTC ETF has performed positively over the past week, the Ethereum ETF has failed to make a difference.

After three days of strong inflows last week, the Ethereum ETF closed with a cumulative net outflow of $14.17 million on Friday.

On the other hand, the BTC ETF recorded a total of $32.57 million in net inflows over the past week.

This difference in fund flows essentially highlights the difference in acceptance between the BTC fund and the recently launched Ethereum products, especially in the months after the BTC fund was launched.