Grayscale's GBTC's dominance has been slowly fading as BlackRock's IBIT's less-expensive fund attracts new investment capital.
It has been three months since spot bitcoin ETFs began trading and BlackRock's fund appears to be on pace to usurp Grayscale's as the biggest of the crypto-based investment vehicles on offer.
As Grayscale's GBTC fund, which charges a higher fee than BlackRock's, has consistently shed capital since it began trading, BlackRock's ETF has been slowly narrowing the gap in terms of assets under management, or AUM. Grayscale's fund had about $23.4 billion in AUM two months ago compared to BlackRock's $4.4 billion, according to The Block Data Dashboard.
In terms of trading volume, Grayscale’s fund has also been gradually losing market share, down from about 50% when the spot bitcoin ETFs launched on Jan. 11 to 23.5% as of Tuesday.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BlackRock’s IBIT Beats Grayscale’s GBTC in This Important Metric Amid BTC ETF ExcitementCrypto Blog
Read more »
Analyst Names Key Reason Behind Disastrous Grayscales OutflowsGrayscale's Grayscale Bitcoin Trust (GBTC) is seeing massive outflows
Read more »
What is Grayscale's GBTC spot bitcoin ETF?Grayscale Bitcoin Trust (GBTC) is spot bitcoin exchange-traded fund offered by Grayscale Investments, giving investors exposure to bitcoin.
Read more »
Grayscale Launches New Bitcoin ETF to Shake Up Cryptocurrency Investment LandscapeGrayscale, powerhouse in digital asset management with over $50 billion in assets, shakes up cryptocurrency investment landscape with launch of BTC, new Bitcoin ETF
Read more »
Grayscale Sees Huge Bitcoin ETF Outflow, But Record Inflow for VanEckCrypto Blog
Read more »
Biggest ETF outflow: At this rate, Grayscale will be out of Bitcoin in 4 monthsThe ten U.S. spot Bitcoin ETFs saw net combined outflows of $326.2 million, their largest to date since launching in mid-January.
Read more »