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BlackRock’s IBIT spot Bitcoin exchange-traded fund (ETF) reached a major milestone in assets under management, surpassing 300,000 BTC ($21 billion) after five months of trading.
BlackRock’s Bitcoin ETF has currently accumulated 302,534 BTC, according to its fund page. It surpassed this milestone yesterday with a net inflow of approximately 4,920 BTC.
IBIT surpassed Grayscale’s GBTC in terms of assets under management (AUM) last week, catching the product with an earlier start than other spot Bitcoin ETFs. GBTC initially operated as a private investment fund and began publicly trading on the OTC market in 2015. In January, it turned into an ETF.
GBTC charges a much higher fee than its competitors — for example, it charges a 1.5% fee versus the current 0.25% fee for BlackRock’s IBIT. GBTC’s post-conversion Bitcoin holdings decreased from approximately 619,220 BTC to 285,651 BTC, or approximately 54%.
However, given the concurrent rise in Bitcoin price since the launch of spot ETFs, GBTC’s assets under management in US dollars have fallen less — from $28.7 billion on January 11 to $20 billion at current prices, a 30% decline .
According to CoinGlass data, total assets held by all spot Bitcoin ETFs in the US currently stand at almost 883,000 BTC ($63 billion), accounting for 4.2% of Bitcoin’s total supply of 21 million.
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