BlackRock is close to becoming the world's largest Bitcoin fund, with a gap of less than 15,000 BTC compared to Grayscale's GBTC holdings

2024-05-14 12:32:18

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ChainCatcher news, BlackRock is nearing becoming the world's largest Bitcoin fund. Since its launch four months ago, BlackRock's Bitcoin spot ETF has reached an asset management scale of $16.7 billion, trailing Grayscale's GBTC by less than $1 billion. Grayscale, on the other hand, has a 10-year head start, with total assets under management of $28 billion.

In addition, BlackRock recently launched a tokenized treasury fund, and cryptocurrency hedge funds and market makers have begun using it as collateral for trading tokens.

BlackRock's Chief Operating Officer Rob Goldstein revealed that entering the Bitcoin market has been a multi-year, very thoughtful journey aimed at bringing BlackRock's institutional quality into the ecosystem.

Official data shows that as of May 13, Grayscale's GBTC holds 289,348.7762 BTC. Meanwhile, BlackRock's IBIT holds 274,755.1419 BTC as of May 10, with a difference of approximately 14,593.6343 BTC between the two. (Financial Times)

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