BlackRock Surpasses Grayscale as Top Digital Asset Manager

• BlackRock has exceeded $22 billion in crypto assets, surpassing Grayscale’s $21 billion.
• BlackRock’s IBIT ETF leads with $21 billion, while Grayscale’s GBTC falls to $14.2 billion.
• Ethereum ETF inflows favor BlackRock, with $966 million compared to Grayscale’s $2.3 billion in outflows.

BlackRock has surpassed Grayscale to become the leading digital asset fund manager by assets under management (AUM). According to James Butterfill, CoinShares’ head of research, BlackRock now holds over $22 billion in cryptocurrency assets. Grayscale’s AUM approaches $21 billion.

Spot Bitcoin ETFs Drive Major Difference

The main reason for the change is that BlackRock controls more spot Bitcoin ETFs than anyone else. Since its launch in America last February, BlackRock’s IBIT ETF has reached $21 billion under management (AUM) – while Grayscale’s GBTC ETF has dropped down to $14.2 billion from a higher number and Fidelity’s FBTC ETF is almost at $11 billion but still less than that of BlackRock

The competition between the two firms extends to Ethereum ETFs. Grayscale’s ETHE holds around $5 billion in ETH, while BlackRock’s ETHA ETF is still under $1 billion. This scenario mirrors the recent developments in the Bitcoin ETF market. If trends continue, BlackRock may replicate its Bitcoin ETF success with Ethereum ETFs.

Outflows and Inflows in Ethereum ETFs

Since Ethereum ETFs began trading in the U.S., Grayscale’s ETHE has experienced $2.3 billion in outflows. However, $222 million in inflows have been directed to its ETH mini-trust. Meanwhile, BlackRock’s ETHA ETF has seen $966 million in inflows, a significant rise from its initial $10.6 million.

Tokenized U.S. Treasuries Sector

In the tokenized U.S. Treasuries sector, BlackRock has also achieved rapid growth. Since the March 20 launch of its tokenized fund BUIDL, its size has expanded nearly thirteen-fold to $518 million. In comparison, Franklin Templeton’s FOBXX fund grew by 21% to $425 million.