BlackRock’s combined ETF holdings from spot Bitcoin ETF and Ethereum ETF have now surpassed Grayscale’s holdings for the first time ever.
According to a recent disclosure from Arkham Intelligence, BlackRock now holds a combined $21.217 billion worth of BTC and ETH in its iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust ETF (ETHA).
Of this figure, the asset manager’s Bitcoin ETF (IBIT) takes the larger balance, boasting over $20 billion worth of Bitcoin in assets under management (AUM). Meanwhile, the recently launched Ethereum ETF (ETHA) commands nearly $900 million in AUM.
BlackRock Surpasses Grayscale in Crypto ETF Holdings
The holdings within these BlackRock ETFs surpass the balances held by Grayscale in its multiple ETF products, including the Grayscale Bitcoin Trust (GBTC), the Grayscale Bitcoin Mini Trust (BTC), the Ethereum Trust (ETHE) and the Ethereum Mini Trust (ETH).
For context, Grayscale announced the launch of the Bitcoin Mini Trust in March amid impressive performance from the broader ETF market and shortly after Bitcoin surpassed its all-time high. The company also introduced the Ethereum Mini Trust last month.
These four Bitcoin and Ethereum ETF products from Grayscale hold a combined $21.202 billion worth of BTC and ETH products, according to Arkham Intelligence. This figure is $15 million less than the cumulative value of BlackRock’s ETF holdings, placing BlackRock above Grayscale for the first time ever.
However, Arkham Intelligence confirmed that its Grayscale dashboard could highlight a higher figure than what the firm holds in exchange-traded funds.
This is because Arkham’s resources also track the Grayscale Digital Large Cap Fund (GDLC), a basket investment instrument that contains BTC, ETH, Solana (SOL), XRP and Avalanche (AVAX). However, the GDLC, though boasting $460 million in AUM, is not an ETF.
A Contrasting Trend
The latest feat from BlackRock is especially significant, considering it recently jumped into the crypto scene, but has now overtaken the largest crypto investment firm in ETF holdings. This is partly due to consistent withdrawals from GBTC, with $25 million in net outflows recorded yesterday.
Following the latest data, GBTC has now observed $19.57 billion in net outflows since spot Bitcoin ETFs went live in January. Meanwhile, IBIT recorded $16.2 million in net inflows yesterday, bringing its total cumulative net inflow above $20 billion.
Expectedly, this contrasting trend with BlackRock and Grayscale ETFs have spilled into their Ethereum products. Since July 23, when spot Ethereum ETFs began trading, Grayscale’s ETHE has recorded $2.386 billion in net outflows. In contrast, BlackRock’s ETHA has witnessed $967.1 million in net inflows.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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