BlackRock Tops Grayscale in Bitcoin and Ethereum ETF Races

According to data provided by Arkham Intelligence, financial giant BlackRock has overtaken Grayscale in the Bitcoin ETF race for the first time.

As noted by the firm, BlackRock’s ETFs, IBIT and ETHA, have now surpassed Grayscale's products, including the firm's scaled-down "mini" versions of its ETF. The two major ETF players are currently at $21.217 billion and $21.202 billion. 

Now, the Larry Fink-helmed firm boasts the largest ETF holdings of any provider.

As reported by U.Today, BlackRock's groundbreaking trailblazing IBIT is now expected to become the largest single holder of the leading cryptocurrency, surpassing none other than Satoshi Nakamoto.  

On Thursday, Bitcoin ETFs recorded $11.1 million worth of inflows. This came after these products broke their inflow streak on Wednesday with $81.4 million worth of outflows.

According to Vetle Lunde, senior analyst at K33 Research, institutional ownership of Bitcoin ETFs experienced a significant uptick in the second quarter of the year. Unsurprisingly, IBIT and Fidelity's FBTC experienced substantial growth. Notably, Paul Tudor Jones acquired $30 million of IBIT shares in the second quarter.

BlackRock's IBIT is also effortlessly dominating the Ethereum ETF race, attracting nearly $1 billion worth of inflows. 

Don't expect more from BlackRock 

Despite the outstanding performance of its Bitcoin and Ethereum ETFs, BlackRock seems to be unwilling to explore more altcoin ETFs (at least for now). As reported by U.Today, Samara Cohen, BlackRock's chief information officer, stated that the financial giant had no plans for a Solana ETF. Earlier, Robert Mitchnick, head of digital assets at BlackRock, stated that there was virtually no interest for altcoins among the company's clients.