BlackRock’s Bitcoin Exchange-Traded Fund (ETF) Gaining Momentum in Competition with Grayscale’s GBTC – Decrypt

BlackRock’s new Bitcoin ETF, the iShares Bitcoin Trust (IBIT), is quickly closing in on Grayscale’s assets under management (AUM), with the gap now less than $4 billion.

IBIT currently has $18.1 billion in assets, while Grayscale’s Bitcoin Trust (GBTC) has $21.9 billion. The difference is now $3.8 billion, down from $6 billion last week.

Experts suggest that IBIT could overtake GBTC by May, but recent trends indicate it might happen even sooner.

IBIT has gained popularity since receiving SEC approval in January, offering lower fees compared to GBTC’s 1.5% fee.

Despite recent outflows due to failed crypto companies withdrawing from GBTC, Grayscale’s CEO remains optimistic about the fund’s future stability.

Edited by Andrew Hayward

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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