BlackRock has officially overtaken Grayscale in terms of assets under management (AUM) for crypto exchange-traded funds (ETFs). The latest data from Arkham Intelligence indicates that BlackRock's spot Bitcoin (IBIT) and Ethereum (ETHA) ETFs collectively hold $21.22 billion, surpassing Grayscale's combined total of $21.20 billion across its four crypto ETFs, including the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETH).
This shift highlights the growing dominance of BlackRock in the cryptocurrency market, particularly among institutional investors. Notably, major financial firms like Morgan Stanley and Goldman Sachs have disclosed significant holdings in BlackRock's ETFs.
Morgan Stanley reported ownership of 5.5 million shares in IBIT, valued at over $187 million, while Goldman Sachs revealed it holds $418 million in spot Bitcoin ETFs, with $238.6 million in IBIT alone.Nate Geraci, president of The ETF Store, praised BlackRock's IBIT for its impressive performance, noting it had only one day of negative inflows since its launch in January 2024. This achievement positions BlackRock as a formidable player in the crypto ETF space, as the firm continues to attract institutional capital and solidify its market leadership.
The competition between BlackRock and Grayscale is intensifying, with BlackRock's lower expense ratios making its ETFs more appealing to investors. As institutional interest in cryptocurrencies continues to grow, BlackRock's ETFs are likely to play a significant role in shaping the future of crypto investments.Read more on Unchained
BlackRock’s Crypto ETFs Surpass Grayscale’s Assets
