BlackRock’s Spot Bitcoin ETF Surpasses Grayscale to Become Largest Bitcoin Fund

BlackRock’s spot Bitcoin exchange-traded fund (ETF) has reportedly overtaken the Grayscale Bitcoin Trust (GBTC) to become the largest ETF tracking Bitcoin’s price. As of May 28, BlackRock’s iShares Bitcoin Trust (IBIT) saw inflows of $102.5 million, while GBTC experienced an outflow of $105 million. This inflow increased BlackRock’s spot Bitcoin ETF holdings to 288,670 Bitcoin. In comparison, Grayscale now holds 287,450 Bitcoin, a significant drop from the 620,000 Bitcoin it held at the time of its conversion in January, according to data from HODL15Capital and the Apollo Bitcoin Tracker. A Bloomberg report on May 29, based on its compiled data,