Blackrock’s onchain assets are rapidly approaching Grayscale’s holdings, with significant inflows boosting its position.
Bollywood Fever: Blackrock is closing in on Grayscale in the race to dominate onchain digital assets, as reported by data from Arkham Intelligence.
As of Friday, Grayscale’s total onchain value stood at approximately $21.33 billion, slightly ahead of Blackrock’s portfolio, which was valued at around $21.02 billion.
However, Blackrock’s rapid growth in 2024 suggests it may soon overtake Grayscale.
Grayscale currently maintains its edge due to its Grayscale Digital Large Cap Fund (GDLC), holding a significant 264,921 BTC and 2.292 million ETH.
Despite this, Blackrock has already surpassed Grayscale in bitcoin holdings, boasting 347,440 BTC alongside approximately 312,122 ETH.
This shift is largely driven by robust inflows into Blackrock’s IBIT and ETHA funds.
While Grayscale experienced record outflows, with its GBTC fund seeing a reduction of $19.57 billion, Blackrock has enjoyed substantial positive inflows, attracting $20.37 billion since January 2024.
Grayscale also faced challenges with its ether holdings, decreasing by $2.39 billion since July.
In contrast, Blackrock’s ETHA fund has steadily grown, nearing the $1 billion milestone with $967.29 million in inflows.
The ongoing trends suggest that if Blackrock continues on this trajectory, it could surpass Grayscale’s onchain portfolio in the near future, marking a significant shift in the landscape of digital asset management.
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