BlackRock’s US$20-billion ETF is now the world’s largest bitcoin fund, dethroning Grayscale’s rival crypto trust

BlackRock’s iShares Bitcoin Trust has become the world’s largest fund for the original cryptocurrency, amassing almost US$20 billion in total assets since listing in the United States at the start of the year.

The spot bitcoin exchange-traded fund (ETF) held US$19.68 billion of the token on Tuesday, dethroning the US$19.65 billion Grayscale Bitcoin Trust, data compiled by Bloomberg show. The third largest is the US$11.1 billion offering from Fidelity Investments.