BlackRock's spot Bitcoin ETF has surpassed Grayscale's to become the largest spot Bitcoin ETF in the US. IBIT now holds nearly $20 billion worth of Bitcoin, compared to GBTC, which holds more than $19 billion. Since launching in January, over $16 billion has flowed into IBIT, while $17 billion has been withdrawn from GBTC. IBIT saw increased inflows recently amid bullish crypto sentiment following ETH ETF approvals and renewed political support. BlackRock's addition of IBIT to its funds marked a turnaround after it saw low inflows and its first outflows in April.
