BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed Grayscale’s Bitcoin Trust (GBTC) to become the world’s largest Bitcoin fund. According to Bloomsberg, an increase in IBIT wealth is continually boosting its asset bases under its low charge structure. As a result, the gap between the two trusts narrowed to $2 billion. IBIT’s popularity has grown mostly due to its reduced annual cost of 0.25% compared to GBTC’s 1.5% fee.
MFS Investment Management, best known for its traditional mutual funds, has applied for five actively managed exchange-traded funds (ETFs). The issue of index funds demonstrates how ETFs are gaining traction in the financial industry, with traditional asset managers adapting to ETF investment structures in response to investor needs.
Investors consistently favored IBIT to GBTC because to the fee differential. This has resulted in persistent flows into IBIT while smashing its record consecutive data of 68 days with outflows of around $16 billion. By the end of April, with IBIT increasing and GBTC still seeking regulatory permission for its tiny version with secret costs, IBIT is expected to win out.
Read also: BlackRock’s IBIT Reaches $14.7B in Bitcoin ETF AUM
