Advertisement
AD

Main navigation

BlackRock Edges Out Grayscale Crypto ETFs, But There's a Twist

Advertisement
Fri, 16/08/2024 - 13:58
BlackRock Edges Out Grayscale Crypto ETFs, But There's a Twist
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

The world of exchange-traded funds (ETF) has recorded a significant upset as BlackRock, the top asset manager, clinched the top spot in crypto ETFs. According to on-chain holdings, BlackRock edged out Grayscale by over $14 million worth of ETFs.

Advertisement

BlackRock's rise reflects investor confidence

According to on-chain site Arkham Intelligence, BlackRock’s ETF holdings stood at $21,217,107,987, while Grayscale's was $21,202,480,698. This represents a significant difference of $14,627,289 between the two giant asset managers.

Related

Notably, the ETF holds an account for BlackRock’s IBIT and ETHA. Grayscale's holdings cover its GBTC, BTC mini, ETHE and ETH mini. The data shows a strong signal of where big investors have placed their bets.

With this new development, BlackRock has the largest collective holding of any crypto ETF provider on the digital market. The milestone achievement follows just days after the top asset manager recorded almost $20 billion in inflows this year. This is a testament that BlackRock has attracted more investment than all the ETFs launched in 2024.

Meanwhile, BlackRock’s newly launched spot Ethereum ETF, has registered a new flow milestone. The ETHA has grown remarkably, reaching the $1 billion mark just months after it commenced trading.

Grayscale's potential to shift

As for Grayscale, the massive outflow it registered in the closing days of July may have contributed to the slip that allowed BlackRock to edge it out of the top spot. Between July 29 and 30, Grayscale recorded a 111,023 ETH outflow, equivalent to $369.7 million.

Related

Analysts say BlackRock's edging out of Grayscale may record a twist, given that the difference between the duo is almost insignificant. A single transaction by a whale could see Grayscale back in first place. However, for now, BlackRock is basking in its glory at the top.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD