Investment giant BlackRock is now the biggest crypto exchange-traded fund (ETF) provider in terms of assets under management (AUM).
According to blockchain intelligence firm Arkham, BlackRock’s ETF holdings have outpaced that of rival and longtime crypto ETF leader Grayscale.
BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust ETF (ETHA) now collectively represent $14.6 million more in on-chain holdings than Grayscale’s Bitcoin Trust (GBTC), Grayscale Ethereum Trust (ETHE), Bitcoin Mini Trust (BTC) and Ethereum Mini Trust (ETH).
“Blackrock ETF holdings overtake Grayscale for the first time.
Blackrock ETFs now have the largest collective holdings of any provider.
BlackRock ETF Holdings: $21,217,107,987
Grayscale ETF Holdings: $21,202,480,698.”
Arkham says the Grayscale Digital Large Cap Fund (GDLC) is not accounted for because the fund is not an ETF.
“N.B. Our ‘Grayscale’ entity still shows a higher balance than ‘BlackRock’. This is mainly due to Grayscale’s fund GDLC, which has around $460 million in AUM and is not an ETF.”
BlackRock is already the world’s third-biggest BTC holder. Bloomberg ETF analyst Eric Balchunas says the asset manager is also on track to hold more Bitcoin than the crypto asset’s pseudonymous creator, Satoshi Nakamoto.
“BlackRock alone is already #3 and on pace to be #1 late next year, and will likely stay there for a very long time.”