The post BlackRock is Now the Largest Digital Asset Fund Manager appeared on BitcoinEthereumNews.com.

BlackRock is now the largest digital asset fund manager with an AUM of $22 billion. Grayscale stands second with an AUM of $20.7 billion.  Grayscale charges much higher fees on its ETF compared to BlackRock. BlackRock, the world’s largest asset management firm that recently entered the digital asset space with its iShares Bitcoin Trust (IBT) and iSharest Ethereum Trust (ETHA), has overtaken Grayscale as the largest digital asset fund manager, after significant inflows in its exchange-traded funds (ETFs) in the past few months.  iShares (Blackrock) has recently overtaken Grayscale to be the largest digital asset fund manager by total assets under management. pic.twitter.com/IruBdw6GFD — James Butterfill (@jbutterfill) August 15, 2024 BlackRock’s spot Bitcoin ETF, IBIT, has witnessed a cumulative net inflow of a massive $20.37 billion since it won the United States Securities and Exchange Commission’s (SEC) approval in January. In the past 24 hours, the ETF has seen $2.68 million in inflows and the investment offering has net assets worth $20.55 billion, as per the data from SoSoValue.  On the other hand, the Grayscale Bitcoin Trust (GBTC), which was converted to a spot BTC ETF at the same time, has witnessed a whopping $19.55 billion in outflows and in the past 24 hours, $56.87 million has left the investment product. Further, the net assets of the firm stand at $13.60 billion.  A major reason for these outflows is the significant fees charged by Grayscale. While IBIT charges a fee of 0.25%, Grayscale charges 1.5% in fees, the highest among all spot Bitcoin ETF issuers. Additionally, BlackRock’s ETHA confirmed a total inflow of $966.52 million since the approval by the SEC in May. The total assets of the ETF stands at $847 million and in the past 24 hours, ETHA secured $16.13 million in inflows. On the other hand, Grayscale’s…

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Filed under: News - @ August 15, 2024 4:27 pm