Bitcoin, Ether Held in BlackRock ETFs Cross Those of Grayscale’s for the First Time

• BlackRock's spot Bitcoin (IBIT) and Ether (ETHA) ETFs have surpassed Grayscale's equivalent funds in assets under management.
• As of the latest data, BlackRock's ETFs collectively manage over $21.217 billion, slightly more than Grayscale's $21.202 billion.
• Recent flows show GBTC experiencing outflows, while BlackRock's ETHA saw inflows, contributing to this shift.

BlackRock’s spot bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs) have flipped Grayscale’s products for the first time to become the largest crypto-focused publicly traded funds in terms of assets under management.

BlackRock’s bitcoin ETF, IBIT, and ether ETF, ETHA, overtook Grayscale’s GBTC, BTC Mini, ETHE and ETH Mini, according to on-chain holdings on Friday. The company’s ETFs now have the largest collective holdings of any provider, on-chain analysis tool Arkham said in an X post.

As of Friday, BlackRock’s ETF Holdings cumulatively held over $21.217 billion, compared to Grayscale's $21.202 billion across its ETFs.

BLACKROCK ETF HOLDINGS OVERTAKE GRAYSCALE FOR THE FIRST TIME

BlackRock’s ETFs IBIT and ETHA have just overtaken Grayscale’s ETFs GBTC, BTC Mini, ETHE and ETH Mini in on-chain holdings.

Blackrock ETFs now have the largest collective holdings of any provider.

BlackRock ETF… pic.twitter.com/PB41LEGc97

— Arkham (@ArkhamIntel) August 16, 2024

Flows data shows GBTC recorded outflows of $25 million on Thursday, while BlackRock had no net inflows or outflows. Grayscale’s ETHE recorded $42 million in net outflows, while BlackRock’s ETHA took on $740,000 in net inflows, SoSoValue data shows.

IBIT became the biggest bitcoin ETF by assets under management in May, topping the $20 billion mark in June after their January release. Grayscale’s GBTC have lost $19.57 billion worth of BTC since January, data shows.