BlackRock Now Owns the Largest Spot Bitcoin ETF in the US: IBIT Surpasses GBTC

BlackRock has made history! Its Spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), is now the largest BTC fund in the US. Indeed, the $9 trillion asset manager’s IBIT has surpassed Grayscale’s GBTC, becoming the largest spot bitcoin ETF in the U.S.

BlackRock's IBIT surpasses Grayscale's GBTC as the largest Bitcoin ETF with $102.5 million in inflows. This milestone highlights the growing institutional adoption of Bitcoin as an investment vehicle.

As of May 28, IBIT holds 288,670 BTC compared to GBTC's holdings, showcasing the significant accumulation of Bitcoin under BlackRock's management. The investment giant added IBIT to its income and bond-focused portfolios, further legitimizing Bitcoin as a mainstream asset.

Spot bitcoin ETFs, led by BlackRock's IBIT and Fidelity's FBTC, collectively are the world's largest holder of BTC. This demonstrates the profound impact of these ETFs on the Bitcoin market and its accessibility to a wider range of investors.

Analyst projects spot fund inflows can propel bitcoin’s price even higher, suggesting that BlackRock's IBIT's success could be a catalyst for further growth in the cryptocurrency market. The competition among ETF providers, including BlackRock, Fidelity, and VanEck, benefits investors through lower fees and increased liquidity.

After a long legal battle, the US Securities and Exchange Commission finally approved the launch of spot Bitcoin ETFs. BlackRock, Fidelity, VanEck, and other firms are now offering these investment products, giving both retail and institutional investors regulated access to Bitcoin exposure.