BlackRock’s ETFs Surpass Grayscale’s

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BlackRock’s digital asset exchange-traded funds have overtaken those offered by leading competitor Grayscale in terms of total assets under management.

Despite only offering two funds (IBIT and ETHA for spot Bitcoin and Ethereum, respectively), BlackRock’s combined AUM of $21.6 billion edges out Grayscale’s $21.3 billion held by their four funds (GBTC, BTC Mini, ETHE, and ETH mini), according to the blockchain intelligence firm Arkham.

As further evidence of their dominance in the space, it was revealed that Morgan Stanley has sold its entire $269.9 million position in GBTC and now holds 5.5 million shares of IBIT worth approximately $187.1 million, while Goldman Sachs now has holdings of almost 7 million shares of IBIT valued at $235 million, in addition to other spot Bitcoin ETFs worth around $35 million and shares of Grayscale’s converted fund worth about $150 million.