BlackRock, a leading American multinational investment company, has surpassed Grayscale in total Assets Under Management (AUM) for Spot Bitcoin Exchange Traded Funds (ETFs). This achievement underscores BlackRock's growing influence in the ETF sector and its increasing confidence in crypto-based investments.

BlackRock's iShares Bitcoin Trust (IBIT) now manages over $21.4 billion in assets, surpassing Grayscale's Bitcoin Trust ETF (GBTC) by more than $1.6 billion. This significant growth is attributed to the consistent inflows BlackRock's Spot Bitcoin ETF has experienced since the beginning of the year.

Since its launch on January 11, BlackRock's Spot Bitcoin ETF has seen daily inflows amounting to millions, with only a few instances of zero inflows and even fewer outflows over the past five months. Data from Farside indicates that BlackRock recorded its first inflow of over $111 million on January 11, with subsequent inflows totaling hundreds of millions. Notably, the ETF witnessed its largest daily inflow of $849 million on March 12, 2024.

In contrast, Grayscale's Spot Bitcoin ETF has faced more outflows than inflows since its launch in January. As a result, BlackRock's IBIT has surpassed GBTC, especially considering Grayscale's ETF has recorded total outflows of $17.5 billion.

According to data from BlackRock's fund site, the company's Spot Bitcoin ETF currently holds over 302,536 BTC, accounting for more than 1.4% of Bitcoin's total circulating supply. In comparison, Grayscale holds approximately 285,105 BTC in its trust, with assets under management totaling $19.75 billion.

Despite experiencing brief inflows in May, Grayscale continues to face significant outflows, with recent drops occurring on June 6 and June 7, totaling $37.6 million and $36.3 million, respectively.

BlackRock's IBIT has outperformed Grayscale's Spot Bitcoin ETF, partly due to its lower annual management fee of 0.25%, compared to Grayscale's 1.5% fee. This fee difference has led many investors to shift assets from Grayscale's ETF to more cost-effective options like BlackRock's IBIT.

Farside has reported a remarkable increase in inflows for BlackRock's Spot Bitcoin ETF, with IBIT recording four consecutive days of inflows from June 4 to June 7. Despite starting June with zero inflows, BlackRock attracted a total of $946 million in inflows over the past four days, with substantial amounts recorded each day.