NEW YORK, August 15, 2024 - In a major development within the digital asset management sector, BlackRock has officially overtaken Grayscale as the largest digital asset fund manager by assets under management (AUM). As of August 15, 2024, data provided by CoinShares highlights that Grayscale, a key player in the cryptocurrency space, experienced a significant outflow of funds, with monthly total outflows (MTD) reaching $952 million. This brought their year-to-date (YTD) outflows to $18.5 billion, reducing their AUM to $70.7 billion.

In contrast, iShares ETFs, a major division of BlackRock, has seen a robust inflow of capital. Over the week leading up to the report, iShares ETFs garnered $116 million in new inflows, resulting in an impressive year-to-date total inflow of $21.3 billion and an AUM of $22 billion.

Other notable players, such as Fidelity ETFs and ARK 21Shares, have also contributed to the reshaping of the market. Fidelity ETFs saw an outflow of $226 million MTD, but still maintained a substantial AUM of $17.1 billion. Meanwhile, ARK 21Shares USA recorded $153 million in weekly inflows, bringing their YTD inflows to $2.4 billion.

The broader trends indicate that despite challenges faced by Grayscale, the digital asset management industry continues to see shifting dynamics, with large institutional players like BlackRock gaining ground.