Inflows to IBIT have picked up recently after a dismal few weeks at the end of April. BlackRock now holds the ETF in two of its major funds.
BlackRock’s spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust (NASDAQ:IBIT), has overtaken Grayscale Bitcoin Trust (BTC) (NYSE:GBTC) in total holdings, making it the world’s largest fund for the flagship cryptocurrency. As of Tuesday, BlackRock’s IBIT held $19.68 billion in Bitcoin, slightly above the $19.65 billion held by the Grayscale Bitcoin Trust, according to data compiled by Bloomberg. The third-largest Bitcoin fund is Fidelity Investments' offering, with $11.1 billion in assets.