{"id":31526,"date":"2024-05-29T10:49:42","date_gmt":"2024-05-29T10:49:42","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/blackrocks-ibit-flips-grayscales-gbtc-to-become-worlds-largest-bitcoin-etf\/"},"modified":"2024-05-29T10:49:42","modified_gmt":"2024-05-29T10:49:42","slug":"blackrocks-ibit-flips-grayscales-gbtc-to-become-worlds-largest-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/blackrocks-ibit-flips-grayscales-gbtc-to-become-worlds-largest-bitcoin-etf\/","title":{"rendered":"BlackRock&#8217;s IBIT flips Grayscale&#8217;s GBTC to become world\u2019s largest Bitcoin ETF"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_The-BlackRock-office-in-New-York-4-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_The-BlackRock-office-in-New-York-4-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_The-BlackRock-office-in-New-York-4-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_The-BlackRock-office-in-New-York-4-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">BlackRock\u2019s IBIT has flipped Grayscale\u2019s GBTC in Bitcoin ETF holdings.<\/span><\/li>\n<li><span style=\"font-weight: 400\">IBIT holdings have surged to 288,670 BTC compared to 287,450 for GBTC.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">One of the top <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin\/\">Bitcoin news<\/a> headlines today is that BlackRock\u2019s iShares Bitcoin Trust (IBIT) has become the largest Bitcoin exchange-traded fund (ETF) in the world, surpassing Grayscale\u2019s Bitcoin Trust (GBTC).<\/span><\/p>\n<p><span style=\"font-weight: 400\">On May 28, inflows into IBIT reached $103 million while GBTC saw outflows of $105 million. Overall, the spot <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin-etf\/\">Bitcoin ETF<\/a> market recorded net inflows for the 11th straight trading day on May 28 with a total of over $45 million.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">IBIT surpasses GBTC as largest Bitcoin ETF<\/span><\/h2>\n<p><span style=\"font-weight: 400\">As Grayscale\u2019s spot BTC ETF recorded outflows of $105 million or 1,540 BTC, BlackRock\u2019s IBIT saw inflows of nearly $103 million, or plus 1,501 BTC.<\/span><\/p>\n<p><span style=\"font-weight: 400\">BlackRock now holds 288,670 BTC for its IBIT ETF, while Grayscale\u2019s GBTC holdings have shrunk further to 287,450 BTC. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Notably, when spot Bitcoin ETFs debuted in January, Grayscale\u2019s ETF held 620,000 Bitcoin. However, as data HODL15Capital <\/span><a href=\"https:\/\/x.com\/HODL15Capital\/status\/1795626922174746867\"><span style=\"font-weight: 400\">shared<\/span><\/a><span style=\"font-weight: 400\"> on X shows, these have quickly shrunk as BlackRock, Fidelity and others swelled in the last four months.<\/span><\/p>\n<figure id=\"attachment_205915\" aria-describedby=\"caption-attachment-205915\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-205915 size-full\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/05\/bitcoin-etf-holdings-ibit-gbtc-by-hodl5capital.jpg\" alt=\"\" width=\"2048\" height=\"930\"\/><figcaption id=\"caption-attachment-205915\" class=\"wp-caption-text\">BlackRock\u2019s IBIT has added BTC holdings as Grayscale\u2019s GBTC bleeds since SEC approved first spot Bitcoin ETFs for US market in January 2024<\/figcaption><\/figure>\n<p>According to HODL15Capital, Grayscale\u2019s outflows have come amid the fee issue (1.5% for GBTC vs. 0.2% for peers).<\/p>\n<p><span style=\"font-weight: 400\">\u201cGrayscale held 620,000 BTC at the time of the conversion (1\/10\/2024), which was more than 3% of circulating supply, but refused to lower the fee (1.5% vs 0.2% for peers), even after investors pulled 330,000+ BTC.\u00a0 So much for the \u201cdifferentiated\u201d strategy,\u201d HODL15Capital <a href=\"https:\/\/x.com\/HODL15Capital\/status\/1795637263310954651\" target=\"_blank\" rel=\"noopener\">noted<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">A Bloomberg <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-29\/blackrock-s-ibit-now-world-s-largest-bitcoin-btc-etf-as-gbtc-shrinks\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">report<\/span><\/a><span style=\"font-weight: 400\"> published on Wednesday notes that BlackRock\u2019s BTC holdings reached $19.68 billion as of the end of trading Tuesday, compared to $19.65 billion in BTC for Grayscale. Fidelity\u2019s FTBC, which registered inflows of $34.3 million on May 28, currently holds $11.1 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400\">IBIT\u2019s flippening of GBTC comes as BlackRock revealed in a regulatory filing that its funds have purchased IBIT shares.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Specifically, the BlackRock Strategic Income Opportunities Fund (BSIIX) <\/span><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1738078\/000175272424120138\/BLK_Strat_Inc_Opps.htm\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">bought<\/span><\/a><span style=\"font-weight: 400\"> IBIT shares worth $3.56 million in the first quarter. Meanwhile, the Strategic Global Bond Fund (MAWIX) <\/span><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/835620\/000175272424120454\/NPORT_896K_32142591_0324.htm\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">holds<\/span><\/a><span style=\"font-weight: 400\"> the ETF\u2019s shares worth $485,000.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/blackrock-flips-grayscale-to-become-worlds-largest-bitcoin-etf\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) BlackRock\u2019s IBIT has flipped Grayscale\u2019s GBTC in Bitcoin ETF holdings. IBIT holdings have surged to 288,670 BTC compared to 287,450 for GBTC. One of the top Bitcoin news headlines today is that BlackRock\u2019s iShares Bitcoin Trust (IBIT) has become the largest [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":31527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31526"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=31526"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31526\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/31527"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=31526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=31526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=31526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}