① BlackRock's iShares Bitcoin Trust Fund has surpassed Grayscale Bitcoin Trust to become the world's largest Bitcoin fund; ② Since its listing in the US at the beginning of the year, iShares's total assets have accumulated nearly 20 billion US dollars; ③ iShares Bitcoin Trust has also attracted 16.5 billion US dollars in capital inflows, the highest level since listing.
Financial Services Association, May 29 (Editor Zhou Ziyi) BlackRock's iShares Bitcoin Trust (iShares Bitcoin Trust) has become the world's largest Bitcoin original cryptocurrency fund. Since listing in the US at the beginning of this year, total assets have accumulated nearly $20 billion.
According to data compiled by the media, as of Tuesday (May 28), the exchange-traded fund (ETF) held $19.68 billion in Bitcoin, surpassing the $19.65 billion Grayscale Bitcoin Trust, while the third-largest was Fidelity Investments' $11.1 billion Bitcoin ETF.
The US Securities and Exchange Commission (SEC) gave the green light to the first batch of US spot Bitcoin ETFs in January this year. BlackRock and Fidelity's Bitcoin ETFs are just two of the nine Bitcoin spot ETFs listed on January 11 this year. On the same day, Grayscale Bitcoin Trust (GBTC), which has a history of over a decade, was also transformed into an ETF.
The events of January were a watershed moment for cryptocurrencies. The issuance of a Bitcoin ETF made Bitcoin more accessible to investors and propelled the token to a record high of $7,3798 in March. As of press time, Bitcoin's price is $67,913.
The data also shows that iShares Bitcoin Trust has attracted $16.5 billion in capital inflows, the highest level since listing.
In contrast, investors withdrew $17.7 billion from Grayscale Bitcoin Trust (GBTC) over the same period. Analysts believe that the latter's higher fees and arbitrators' exit are considered possible drivers of capital outflows.
According to a document submitted to regulators in March, Grayscale Investments plans to launch a fund that clones its flagship fund. According to a person familiar with the matter at the time, the fee for the new fund is expected to be lower.
According to the documents, Grayscale submitted a listing application for a new investment product “Grayscale Bitcoin Mini Trust” (Grayscale Bitcoin Mini Trust). The product will receive a certain amount of Bitcoin held by GBTC as seed capital. In exchange, current GBTC shareholders will receive shares in the Grayscale Bitcoin Mini Trust.
It is worth mentioning that Ether, whose market capitalization is second only to Bitcoin, will also welcome the listing and trading of spot ETFs.
More than four months after the Bitcoin spot ETF was listed, the SEC announced last week that it approved plans related to the Ether ETF transaction submitted by the NYSE, the Chicago Options Exchange, and NASDAQ. Ether is a token second only to Bitcoin in market capitalization.
Editor/Somer