Key Takeaways:
- BlackRock’s spot Bitcoin ETF (IBIT) recorded significant inflows of $102 million on May 28, surpassing Grayscale’s Bitcoin Trust (GBTC) to become the largest Bitcoin ETF.
- BlackRock’s ETF now holds 288,670 Bitcoin, valued at $19.68 billion, slightly more than Grayscale’s 287,450 Bitcoin.
- Collectively, spot Bitcoin ETFs now hold over one million Bitcoin, valued at over $68 billion, representing nearly 5.10% of the circulating supply.
BlackRock’s $20 billion spot Bitcoin ETF (IBIT) recorded significant inflows of over $102 million on May 28, surpassing Grayscale’s Bitcoin Trust (GBTC) to become the world’s largest Bitcoin ETF.
On the same day, GBTC experienced outflows of $105 million.
JUST IN: BlackRock's spot #Bitcoin ETF $IBIT passes GBTC to become the largest Bitcoin ETF in the world. pic.twitter.com/b9hgfZLmY7
— Bitcoin Magazine (@BitcoinMagazine) May 29, 2024
As a result, BlackRock’s ETF now holds 288,670 Bitcoin, compared to Grayscale’s 287,450 Bitcoin, down from 620,000 Bitcoin in January.
According to Bloomberg, BlackRock’s ETF held $19.68 billion in Bitcoin, slightly more than Grayscale’s $19.65 billion, while Fidelity’s ETF held $11.1 billion.
BlackRock’s $20 billion ETF is now the world’s largest Bitcoin fund https://t.co/Lw9lrzGKa8
— Bloomberg Markets (@markets) May 29, 2024
Both ETFs launched in January, and BlackRock’s ETF has seen the majority of inflows among the 11 spot Bitcoin ETFs available.
Additionally, BlackRock’s income and bond-focused funds acquired shares of its Bitcoin ETF in the first quarter, with the Strategic Income Opportunities Fund buying $3.56 million worth of IBIT and the Strategic Global Bond Fund purchasing $485,000 worth.
📊 #BlackRock's spot Bitcoin ETF is now the largest, surpassing #Grayscale's $GBTC after a $102M inflow.$IBIT holds nearly $20B in $BTC, while $GBTC has $19.7B after $105M in outflows. pic.twitter.com/mgOzOiEX1j
— Satoshi Club (@esatoshiclub) May 29, 2024
Spot Bitcoin ETFs now collectively hold over one million Bitcoin, valued at over $68 billion, representing nearly 5.10% of the circulating supply. Analysts are also anticipating the launch of spot Ether ETFs as early as mid-June, pending regulatory approval.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
His articles offer a deep dive into the latest trends, projects, and technological advancements shaping the future of digital finance.
Check Efe out on:
