BlackRock’s IBIT topples GBTC as the world’s largest Bitcoin fund

BlackRock ( NYSE: BLK ) is now the issuer of the world's largest cryptocurrency fund, as the firm’s iShares Bitcoin Trust ( NASDAQ: IBIT ) surpassed the Grayscale Bitcoin Trust ( NYSEARCA: GBTC ) in size on Wall Street. On Tuesday, IBIT held $19.68B worth of the Bitcoin token, toppling the $19.65B that was held by GBTC. BlackRock ( BLK ) is the world's largest asset manager. IBIT, which was launched back on January 11th of this year, has now advanced 38.6% year-to-date and has amassed nearly $20B in assets under management as investors flock towards the world's now leading Bitcoin ( BTC-USD ) backed exchange-traded fund. Moreover, in just the last two trading weeks dating back to May 15, IBIT has observed a large influx of cash that totals $669.03M, which followed the $1.62B that was attracted during the entire month of April. IBIT’s popularity can also be seen through its average daily volume. Currently, IBIT’s 30-day average volume amount in shares is just over 25M shares per day. While IBIT has become the new assets under management leader in the Bitcoin ETF sphere, it's not the only Bitcoin focused fund to have built up its assets. Other funds also include: ( FBTC ). ( ARKB ), ( BITB ), ( HODL ), ( BRRR ), ( BTCO ), ( EZBC ), and ( BTCW ). More on iShares Bitcoin Trust ETF IBIT: Why The Halving May Still Impact Prices Going Forward IBIT: A Better Alternative To Bitcoin Self-Custody For Most Investors IBIT: BTC Supply Is Shrinking Elliott Management's Q1 moves include adding Nvidia, Transocean, exiting Valaris IBIT hit 71 consecutive days of inflows, placing it in the all-time top 10 for ETFs