BlackRock’s Digital Asset ETFs Surpass Grayscale in AUM

BlackRock, recognized as a leading global asset manager, recently reached a significant milestone:

Its digital asset exchange-traded funds (ETFs) have now surpassed those of longtime leader Grayscale in total assets under management (AUM).

Although BlackRock only offers two funds – IBIT (spot Bitcoin ETF) and ETHA (spot Ethereum ETF) – their combined AUM of $21.6 billion slightly exceeds the $21.3 billion managed by Grayscale’s four funds: GBTC, BTC Mini, ETHE and ETH Mini, according to Arkham Intelligence.

Morgan Stanley recently disclosed that it has nearly liquidated its $269.9 million position in GBTC, currently holding 5.5 million shares of IBIT, valued at approximately $187.1 million at current prices. Similarly, Goldman Sachs disclosed last week that it holds nearly 7 million shares in IBIT worth about $235 million, in addition to approximately $35 million in the Grayscale convertible fund and about $150 million in other spot BTC ETFs.

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Nate Gerassi, president of investment adviser The ETF Store, noted on Platform X that BlackRock’s IBIT has experienced just one day of net outflows since launch. That observation is backed by SoSoValue data, though the ETF has also logged 26 days with no moves to date.

While IBIT is currently the leader among spot bitcoin ETFs, BlackRock’s spot ethereum fund, ETHA, ranks only third in AUM, based on SoSoValue data. Although ETHA has yet to have any days with negative outflows, it has had four days with net-zero trading since launching on July 22, nearly a month ago.

Alexander Stefanov