- IBIT ETF surpasses $21B in AUM, outdoing Grayscale’s GBTC.
- IBIT holds 302,534 BTC, GBTC manages 285,651 BTC.
- U.S. spot Bitcoin ETFs total 883,000 BTC.
BlackRock’s IBIT spot Bitcoin exchange-traded fund has achieved a significant milestone, surpassing 300,000 BTC ($21 billion) in assets under management just five months after its launch on January 11.
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Growing Dominance in the ETF Market
The IBIT ETF now holds 302,534 BTC, with recent net inflows of 4,920 BTC pushing it over the 300,000 BTC mark. This achievement marks a notable rise, overtaking Grayscale’s GBTC in AUM last week.
GBTC, which originally operated as a private placement before transitioning to public trading and then converting to an ETF, currently manages 285,651 BTC, significantly lower than its previous holdings.
Comparison of Fees and Performance
IBIT boasts a competitive edge with a lower management fee of 0.25%, contrasting sharply with GBTC’s 1.5% fee structure. Despite GBTC’s fee disadvantage, its assets have remained relatively stable in USD terms, demonstrating resilience amid market fluctuations.
Currently, the net assets of all the U.S. spot Bitcoin ETFs stand at close to 883,000 BTC ($63bn) representing approximately 4.2% of Bitcoin’s total supply. This underscores the growing mainstream acceptance and investor confidence in Bitcoin as an asset class.
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