BlackRock’s IBIT Closes On Grayscale As World’s Largest Bitcoin ETF After 69 Days Of Inflows
BlackRock’s IBIT ETF is closing in on Grayscale’s GBTC to become the world’s largest spot Bitcoin ETF (exchange-traded fund) after recording inflows for 69 consecutive days. Since its launch at the start of the year, IBIT ((iShares Bitcoin Trust) has not recorded a single day of outflows. But GBTC (Grayscale Bitcoin Trust) has suffered a net outflow of $16 billion since January. IBIT’s ongoing inflows and GBTC’s persistent outflows have now narrowed the gap between the two funds to $2 billion. iShares Bitcoin ETF now only $2bil behind Grayscale Bitcoin Trust… 68 straight days of inflows for IBIT. 68 straight days of outflows for GBTC. Wild how quickly this happened. via @kgreifeld pic.twitter.com/aG5uOVfM4V — Nate Geraci (@NateGeraci) April 19, 2024 Fidelity And BlackRock Gain Momentum As GBTC Loses Supremacy GBTC’s supremacy in the Bitcoin ETF market has been diminishing, while competitors BlackRock and Fidelity are growing ...