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The Expected Happened! BlackRock's ETF Passed Grayscale! What will happen now? Here are the Details

BlackRock's $20 Billion Bitcoin ETF dethroned Grayscale Bitcoin Trust and rose to first place.

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BlackRock's $20 Billion ETF dethroned Grayscale Bitcoin Trust. Recently launched US ETFs have made Bitcoin more accessible.

BlackRock's $20 Billion ETF Is Now the World's Largest Bitcoin Fund

BlackRock Inc. His company's iShares Bitcoin Trust has become the largest fund for Bitcoin, raising almost $20 billion in total assets since its listing in the US at the beginning of the year.

The exchange-traded fund held $19.68 billion of tokens on Tuesday, dethroning the $19.65 billion Grayscale Bitcoin Trust, according to data compiled by Bloomberg.

BlackRock and Fidelity Bitcoin ETFs were among nine ETFs launched on Jan. 11, the day the more than decade-old Grayscale vehicle became an ETF.

These launches were a turning point for crypto, making Bitcoin more accessible to investors, leading to record highs of $73,798 by March.

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The iShares Bitcoin Trust attracted the largest inflow since it launched at $16.5 billion, while investors pulled $17.7 billion from the Grayscale fund during the same period. Higher fees and the exit of arbitrageurs were cited as possible reasons for the exits.

Neither BlackRock nor Grayscale Investments LLC immediately responded to requests for comment outside U.S. business hours.

Grayscale plans to launch a clone of its parent fund and fees are expected to be lower, according to a regulatory filing filed in March, a person with knowledge of the matter said.

The Securities and Exchange Commission reluctantly gave the green light for the first U.S. spot-Bitcoin ETFs in January following a court reversal in a 2023 lawsuit filed by Grayscale.

*This is not investment advice.

Buradaki Yorumlardan Bildirim Al

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