BlackRock Overtakes Grayscale to Become the Leading Bitcoin ETF Provider

The long-anticipated "flippening" in the Bitcoin ETF market has finally occurred, with BlackRock's iShares Bitcoin Trust (IBIT) surpassing the Grayscale Bitcoin Trust (GBTC) as the world's largest BTC index fund.

According to Farside Investors, BlackRock's Bitcoin ETF, managed by the world's largest asset manager, recorded $102.5 million in net inflows yesterday, while the GBTC lost $105.2 million. "There's a new king in the land of Bitcoin ETFs, and it's BlackRock," commented HODL15Capital. Current data shows that the IBIT now manages 288,670 Bitcoin, while the GBTC has "only" 287,450 Bitcoin.

The leading cryptocurrency, Bitcoin, remains unaffected by this development and is trading at $67,710 at the time of writing, representing a slight decline of approximately 0.5 percent in the past 24 hours.

BlackRock's BTC holdings are currently valued at an impressive $19.68 billion, while Grayscale holds $19.65 billion in Bitcoin. Fidelity takes third place with a managed Bitcoin portfolio worth $

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