BlackRock becomes world’s largest crypto fund

BlackRock’s iShares Bitcoin Trust has become the world’s largest fund for the original cryptocurrency, amassing nearly $20 billion in total assets since its US listing at the start of the year, Bloomberg reported on Wednesday.

The ETF held $19.68 billion in tokens on Tuesday, surpassing Grayscale Bitcoin Trust’s $19.65 billion, according to Bloomberg data.

The SEC, led by crypto skeptic Gary Gensler, had rejected spot bitcoin ETFs for over a decade but approved them in January following a court challenge won by Grayscale Investments last year.