A month and a half after we first observed that the world's largest Bitcoin fund, Grayscale's GBTC, lost more than half of its assets between the Bitcoin ETF Spot approval in January and the halving. " for the 4th time in the history of Bitcoin.
.png)
And just over a week after Grayscale CEO Michael Sonnenschein unexpectedly resigned amid endless withdrawals (due to GBTC's 1.5% fee), the change is finally official.
According to data from Farside , with today's ETF inflows recorded, the inevitable has finally happened. After GBTC recorded 105.2 million USD, equivalent to about 1530 BTC, withdrawn in one day with the largest negative inflow in more than two weeks. While BlackRock's IBIT bought another 101.9 million USD, the second fund surpassed and BlackRock's IBIT dethroned GBTC to become the world's largest ETF with 19.795 billion USD worth of Bitcoin, equivalent to about 288,670 BTC, compared with 19.758 billion USD of GBTC.
.png)
With it becoming the world's largest Bitcoin ETF, Larry Fink can continue to focus on the one asset he truly craves in his pursuit of financial Tokenize - Ethereum - which just received approval ETF Spot from the SEC late last week, and Blackrock will soon dominate the second-largest cryptocurrency as it begins its journey to $14,000 by 2025 with the backing of Larry Fink.
VIC Crypto compiled
Related news:
Grayscale's Ethereum ETF will have negative inflows of $110 million per day in its first month
5 Impacts that Ethereum ETF Will Have on Altcoins
Argentina wants to learn from El Salvador's experience in adopting Bitcoin
Mt.Gox just transferred at least $2.9 billion in Bitcoin for the first time in 5 years
