BlackRock’s iShares Bitcoin Trust (IBIT) has officially become the largest Bitcoin fund after recording $102 million in inflows in Tuesday’s trading session, according to data from Farside. Meanwhile, Grayscale Bitcoin Trust (GBTC) saw roughly $105 million in outflows.
IBIT now holds $19.68 billion worth of Bitcoin, surpassing GBTC, which currently holds $19.65 billion in Bitcoin, Bloomberg reported. Fidelity’s Bitcoin ETF claims the third spot.This shift in leadership comes almost five months after both funds began trading following the SEC’s approval of spot Bitcoin ETFs in January 2024.The fee structure has played a major role in this transition. Grayscale’s GBTC carries a 1.5% management fee, a cost that has driven investors towards more economical options like IBIT.BlackRock has invested in IBIT with other funds, according to a report on Tuesday. The BlackRock Strategic Income Opportunities Fund and the Strategic Global Bond Fund have allocated $3.56 million and $485,000 to IBIT shares, respectively. These figures were confirmed by recent SEC filings.
