BlackRock Seizes Top Position in Crypto Holdings, Signaling Market Optimism
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
BlackRock has overtaken Grayscale as the largest collective holder of on-chain assets through its exchange-traded funds (ETFs).
The milestone underscores the growing confidence among institutional investors in digital assets like Bitcoin and Ethereum, driven by the increasing approval of ETFs.
As of Friday, BlackRock’s ETF holdings in IBIT and ETHA reached a staggering $21.22 billion, surpassing Grayscale’s combined holdings of $21.20 billion across its GBTC, BTC Mini, ETHE, and ETH Mini funds, according to a report by Arkham Intelligence.
Despite BlackRock’s newfound dominance, Grayscale still holds a larger overall balance, primarily due to its GDLC fund, which manages approximately $460 million in assets.
Unlike BlackRock’s ETFs, the GDLC fund is not an ETF, allowing Grayscale to maintain a broader market share.
N.B. Our ‘Grayscale’ entity still shows a higher balance than ‘BlackRock’. This is mainly due to Grayscale’s fund GDLC, which has around $460M in AUM and is not an ETF.
Track Grayscale on Arkham:https://t.co/K7P3NmGZFH
Track BlackRock on Arkham:https://t.co/e64glDMXxX
However, BlackRock’s rapid ascent, particularly since the launch of its Bitcoin ETFs in January, positions the company as a formidable competitor in the crypto space.
Bloomberg ETF analyst Eric Balchunas has predicted that if the current growth trend continues, BlackRock’s IBIT ETF could surpass Satoshi Nakamoto’s Bitcoin holdings by 2025.
“US ETFs are on track to pass Satoshi in Bitcoin held by October. BlackRock alone is already #3 and on pace to be #1
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