It's been a month and a half since Grayscale's GBTC, the world's largest bitcoin fund, first confirmed that it had lost more than half of its assets since the spot bitcoin ETF was approved in January in the year's first and least memorable “halving” event…
…and Grayscale CEO Michael Sonnenschein He suddenly resigned Amidst the constant outflow of funds (due to GBTC’s 1.5% fee), The reversal was officially made.
As ETF inflows hit records today, the inevitable finally happened, with GBTC seeing its biggest single-day outflow in over two weeks with $105.2 million, or roughly 1,530 BTC, while BlackRock's IBIT added $101.9 million, with the latter now surpassing the former, and BlackRock's IBIT now stands at $19.795 billion BTC (roughly 288,670 BTC equivalent), overtaking GBTC as the world's largest ETF, compared to $19.758 billion for GBTC.
And with the world’s largest Bitcoin ETF in hand, Larry Fink can now focus on the only asset he’s really after in his pursuit of financial tokenization: Ether, which just got spot ETF approval last weekend and will soon take BlackRock’s place as the world’s second-largest ETF. Cryptocurrency begins journey to reach $14,000 in 2025 With the blessing of Larry Fink.
From Zerohedge.com
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