<div id="readability-page-1"><ul><li><em>BlackRock surpassed Grayscale in ETFs holdings for the first time.</em></li><li><em>BlackRock ETFs hit $21,217,107,987, while Grayscale ETFs stood at $21,202,480,698 at press time.</em></li></ul><p>BlackRock ETFs have made a historical shift, overtaking Grayscale ETFs for the first time. According to an X (formerly Twitter) post by Arkham Intelligence,</p><blockquote><p>” Rocket ETF holdings overtake Grayscale for the first time. BlackRock’s ETFs IBIT and ETHA have just overtaken Grayscale’s ETFs GBTC, BTC Mini, ETHE and ETH Mini in on-chain holdings. Blackrock ETFs now have the largest collective holdings of any provider.”</p></blockquote><p>This development positions BlackRock as the leader in the ETF market after overtaking Grayscale, which has been the dominant player for a long time.</p><div id="attachment_415464"><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/08/asset-flow.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1112" height="616" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/08/asset-flow.jpeg"/></p><p id="caption-attachment-415464">Source: Coinglass</p></div><p>At press time, BlackRock’s total holdings hit $21,217,107,987, while Grayscale ETF’s total holdings followed closely behind at $21,202,480,698.</p><h2>Implications for Ethereum, Bitcoin</h2><div id="attachment_415459"><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/08/aum.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="882" height="600" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/08/aum.png"/></p><p id="caption-attachment-415459">Source: Coinglass</p></div><p>The cryptocurrency market experienced significant movements in ETF flows since this news broke.</p><p>Notably, spot Bitcoin [BTC] ETFs saw a net inflow of approximately $35.9 million, with notable contributions from Fidelity ($61.3 million) and BlackRock ($20.4 million).</p><p>Meanwhile, Grayscale’s Bitcoin Trust (GBTC) saw an outflow of $72.9 million.</p><div id="attachment_415461"><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/08/flow.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="882" height="600" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/08/flow.png"/></p><p id="caption-attachment-415461">Source: Coinglass</p></div><p>Ethereum [ETH] ETFs saw major activities as well. Spot Ethereum ETFs recorded a net outflow of $15 million.</p><p>Within the Ethereum ETFs, Grayscale’s ETHE had an outflow of $27.743 million, while BlackRock’s ETHA and Fidelity’s FETH had inflows of $10.33 million and $7.21 million, respectively.</p><p>Therefore, the total net flow for ETH spot ETFs was $7.352 billion at press time.</p><div id="attachment_415466"><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/08/eth-1.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="917" height="624" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/08/eth-1.jpeg"/></p><p id="caption-attachment-415466">Source: Coinglass</p></div><p>The shift in preference between BlackRock and Grayscale may significantly impact crypto, especially regarding investor confidence.</p><h2>Increased demand for ETFs</h2><p>The demand for ETFs has experienced exponential growth YoY. For instance, in 2022, the net share issuance of ETFs was $609 billion. In 2023, it was $597 billion.</p><p>However, there has been a drastic surge in demand in 2024 since the approval of Bitcoin spot ETFs in January, and Ethereum spot ETFs in July.</p><div id="attachment_415458"><p></p><p id="caption-attachment-415458">Source: Farside Investors</p></div></div>

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<p>BlackRock's ETFs have overtaken Grayscale's for the first time, reaching $1,217,107,987, compared to Grayscale's $1,202,480,698. This shift positions BlackRock as a leader in the ETF market. The cryptocurrency market reacted with significant ETF inflows, with Bitcoin ETFs experiencing a net inflow of $1.9 million, while Ethereum ETFs faced a net outflow of $0.352 billion. The approval of spot Bitcoin and Ethereum ETFs has led to soaring demand, as seen in the massive increase in net share issuance from 2022 to 2023.</p>

Did Ethereum ETFs help BlackRock surpass Grayscale’s holdings?