BlackRock, the world’s largest asset manager, has reached a new milestone and is now the company with the largest portfolio of crypto exchange-traded funds (ETFs), according to the latest data.

Here’s How BlackRock’s ETFs Compare to Grayscale’s Funds

Crypto intelligence platform Arkham revealed in a post on X that BlackRock has overtaken Grayscale to become the asset manager with the largest crypto ETF holdings. Data from Arkham shows that BlackRock’s exchange-traded funds are worth $21,217,107,987, while Grayscale’s ETFs have $21,202,480,698 in crypto assets under management (AUM).

The trillion-dollar asset manager was able to take this position with its two funds, IBIT (spot Bitcoin ETF) and ETHA (spot Ethereum ETF), despite Grayscale offering four funds; GBTC (spot Bitcoin ETF), BTC Mini, ETHE (spot Ethereum ETF), and ETH Mini. However, it’s worth noting that the Grayscale entity still has a higher balance than BlackRock due to its GDLC fund, which is not an ETF and has $460 million in AUM.

Since the launch of the Bitcoin exchange-traded fund in January, BlackRock’s IBIT has unsurprisingly been one of the strongest performers in the ETF market. In a recent post on X, Nate Geraci, president of The ETF Store, revealed that the iShares Bitcoin ETF (IBIT) has only seen a single day of outflows since its debut in early 2024.

iShares Bitcoin ETF Has *One* Day of Outflows Since Launch in January…

One day.

$20.5 billion in inflows.

Top launch of 2024.

This is exactly what “no question” looks like.

via @thomas_fahrer photo.twitter.com/k11aDKGudM

— Nate Geraci (@NateGeraci) August 17, 2024

In contrast, the Grayscale Bitcoin Trust (GBTC) has only seen 12 days of inflows since launch, resulting in total net outflows of $19.65 billion. This trend played a significant role in Grayscale losing the top spot by AUM to BlackRock.

This is further underscored by the recent moves by investment banks Morgan Stanley and Goldman Sachs, which disclosed their substantial holdings in the iShares Bitcoin ETF. Morgan Stanley specifically revealed that it had dumped nearly all of its nearly $270 million position in GBTC stock.

Spot Bitcoin ETF Posts Positive Week — What About ETH ETFs?

While spot Bitcoin ETFs have seen positive performance over the past week, their Ethereum counterparts have failed to make their mark. Despite starting the week strong with three consecutive days of inflows, spot Ethereum ETFs closed Friday with cumulative net outflows of $14.17 million.

Bitcoin ETFs, on the other hand, recorded a total net inflow of $32.57 million over the past week. This disparity in capital flows effectively underscores the difference in adoption between Bitcoin funds and the recently launched Ethereum products, especially in the months following their debut.

The price of Bitcoin exactly at the $60,000 mark on the daily timeframe | Source: BTCUSDT chart TradingView

Main image by Getty Images, chart by TradingView