BlackRock Conquers Crypto Throne

With $21.22 billion in assets under management now, BlackRock is well ahead of the Crypto-ETF competition. Grayscale has been beaten.

Financial giant BlackRock has overtaken Crypto pioneer Grayscale as the asset manager with the largest Crypto-ETF positions. The power change is confirmed by the latest information from Arkham Intelligence.

The numbers: While BlackRock manages about $21.22 billion through its own Bitcoin- and Ethereum-ETFs, Grayscale manages only $21.20 billion in Crypto assets.

In the calculation, Arkham took into account the two BlackRock ETFs, IBIT and ETHA, and the four Grayscale ETFs, GBTC, BTC Mini, ETHE and ETH Mini. These are all Crypto-ETFs available to the two asset managers.

The Bitcoin ETF market in particular is now dominated by BlackRock. The world's largest asset manager's iShares Bitcoin Trust (IBIT) currently holds 348,900 BTC worth $20.65 billion.

By contrast, the Grayscale Bitcoin Trust still holds only 229,800 BTC worth $13.6 billion. Mainly because of the significantly higher annual management fees for the GBTC, investors have been selling their shares for months.

Meanwhile, the leading crypto-currency is trading at $59,770, a marginal price increase of 0.67% over the past 24 hours. Compared to last week, however, the BTC price is down 1.33%.

Ethereum ETFs have also seen a similar trend observable. While BlackRock's ETHA has been able to record net inflows of $977 million since the start of trading, the Grayscale Ethereum Trust lost $2,414 million.

BlackRock's strength is highlighted by the recent investments of major U.S. banks Morgan Stanley and Goldman Sachs, which have increased their stakes in the iShares Bitcoin ETF by hundreds of millions of dollars each.