For the first time, the number of Bitcoins held by BlackRock's IBIT has surpassed those of Grayscale's GBTC, making it the largest Bitcoin spot ETF

PANews reported on May 29, according to HODL15Capital, the number of Bitcoins (288,670) held by BlackRock's Bitcoin spot ETF (IBIT) has surpassed that of Grayscale's GBTC (287,450), making it the largest Bitcoin spot ETF.

It is worth noting that Grayscale held 620,000 BTC during its transition on January 10th, 2024, accounting for more than 3% of the circulation. However, even after investors withdrew over 330,000 BTCs , it still refused to reduce its fee from 1.5% to a comparable industry level of 0.2%, which has raised questions about its "differentiation" strategy.