BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed Grayscale’s Bitcoin Trust (GBTC) to become the world’s largest spot Bitcoin ETF.
Investors shifted capital to IBIT to take advantage of its 0.20% management fee. This rate significantly undercuts the 1.5% fee charged by Grayscale. BlackRock now holds more than $64.85 billion in Bitcoin.
Recent data shows BlackRock acquired hundreds of millions in Bitcoin in a single week. During the same period, Grayscale experienced consistent outflows and continued sales. This rotation cements BlackRock’s dominant position in the global Bitcoin investment market.