BlackRock's New Bitcoin ETF Overtakes Grayscale as Top Crypto Fund

• Grayscale is the largest crypto fund manager, but is losing ground to BlackRock's popular new Bitcoin ETF, iShares Bitcoin Trust (IBIT) • IBIT has attracted over $17B in assets since launching in January, while Grayscale's Bitcoin Trust (GBTC) has bled $15B+ in assets • GBTC is more expensive (1.5% fee vs 0.25% for IBIT), so investors are switching to other options like IBIT • Analysts predict IBIT could overtake GBTC in assets under management within a month at this rate • Despite outflows, GBTC will likely continue performing decently due to its loyal investor base and rising crypto prices