BlackRock's super gray scale GBTC! IBIT becomes the largest Bitcoin spot ETF in the United States

It has been more than four months since the United States approved the listing of Bitcoin spot ETFs, and BlackRock’s IBIT has performed particularly well. Data shows that IBIT attracted US$102.5 million in gold on Tuesday, and its assets under management (AUM) rose to US$19.68 billion, officially surpassing Grayscale's GBTC and becoming the largest Bitcoin spot ETF in the United States.

According to SoSoValue data, as of the close of trading on May 28, BlackRock IBIT recorded a net inflow of US$102.5 million on Tuesday, with an asset management scale of US$19.68 billion; while GBTC recorded US$105 million in funds There were net outflows, and assets under management shrank to US$19.65 billion.

According to Apollo Bitcoin Tracker tracking, IBIT currently holds 288,670 Bitcoins; while GBTC holds 287,450 Bitcoins.

GBTC used to have an asset management scale of nearly US$30 billion during the closed-end fund period. However, after it was officially converted into a Bitcoin spot ETF, it suffered a massive withdrawal of funds from investors due to the high fee rate of 1.5%; On the other hand, IBIT's fee rate is 0.12%. After its listing, it has continued to attract funds strongly, and its assets under management have grown rapidly from the initial US$4.4 billion to its current scale.

Since their listing in January this year, 11 Bitcoin spot ETFs in the United States have attracted a total of US$13.73 billion in funds. They currently hold a total of more than 1 million Bitcoins worth more than US$6.8 million, accounting for the total circulating supply of Bitcoin. The amount is about 5.1%.

According to CoinGecko market quotations, Bitcoin was $67,742 at the time of writing, down 0.4% in the past 24 hours.

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