BlackRock’s iShares Bitcoin Trust Surpasses Grayscale’s Bitcoin Trust ETF

Exciting news in the world of cryptocurrency as BlackRock’s iShares Bitcoin Trust (IBIT) has taken the lead over Grayscale’s Bitcoin Trust ETF (GBTC) in total Assets Under Management (AUM) for Spot Bitcoin Exchange Traded Funds (ETFs). The IBIT now boasts an impressive $21.4 billion in assets, surpassing its competitor.

Since its launch on January 11, BlackRock’s Spot Bitcoin ETF has been on a winning streak, attracting consistent inflows from investors. On its very first day, the ETF accumulated over $111 million, setting the stage for its success. The momentum continued as IBIT recorded its largest daily inflow of $849 million on March 12, 2024, solidifying its position as a top choice for investors looking to get into the Bitcoin market.

In contrast, Grayscale’s Spot Bitcoin ETF has faced challenges, experiencing more outflows than inflows since its launch in January. The competition between the two ETFs is fierce, with BlackRock’s IBIT clearly coming out on top in terms of AUM and investor interest.