BlackRock’s IBIT Flips Grayscale to Become the Largest Spot Bitcoin ETF in the U.S.

BlackRock’s spot bitcoin (BTC) exchange-traded fund (ETF) is now the largest product of its kind, flipping Grayscale’s GBTC after a $102 million inflow on Tuesday.

IBIT holds nearly $20 billion worth of bitcoin as of Wednesday morning, its product page shows. GBTC holds $19.7 billion after seeing $105 million in outflows on Tuesday, its page shows. Since going live in January, investors have poured in $16.5 billion to IBIT and have withdrawn $17 billion from the Grayscale fund.

Source: BlackRock’s IBIT Flips Grayscale to Become the Largest Spot Bitcoin ETF in the U.S.