BlackRock's Spot Bitcoin and Ether ETFs Surpass Grayscale in Assets Under Management, Leading the Market with $21.217 Billion

BlackRock's spot Bitcoin ETF (IBIT) and Ether ETF (ETHA) have recently surpassed Grayscale's funds in assets under management. As of now, BlackRock's ETFs manage over $21.217 billion, just slightly edging out Grayscale's $21.202 billion.

This is a significant shift. BlackRock's IBIT and ETHA have officially taken the lead over Grayscale's GBTC, BTC Mini, ETHE, and ETH Mini. According to on-chain data shared on Friday, BlackRock now holds the largest collective assets among all providers.

Recent flow data tells an interesting story. Grayscale's GBTC saw outflows of $25 million on Thursday. Meanwhile, BlackRock's ETFs reported no net inflows or outflows. Grayscale's ETHE experienced net outflows of $42 million, while BlackRock's ETHA welcomed net inflows of $740,000, according to SoSoValue data.

IBIT became the largest Bitcoin ETF by assets under management back in May. It even crossed the $20 billion mark in June, following its launch in January. On the other hand, Grayscale's GBTC has lost $19.57 billion in Bitcoin assets since January.