Crypto ETF Issuers
Which firms run the most money?
How the money in the funds splits between the firms that run them, and between the coins.
Each firm's share of the money in the funds
Each band is one firm's slice of the money held in the funds we follow, and the bands add up to 100%. The record starts on 11 Jan 2024, and a firm's band starts on the day its first fund began trading. DEFI is counted from 13 May 2026, when our record of what it holds starts, not from its first trading day, 27 Mar 2024. Other firms adds together the six smallest. It also counts one firm that had money in the funds on earlier days and has none on 22 Sep 2026. The money is valued at each day's closing price.
Right now
BlackRock (iShares) alone runs more than half the money in these funds, 60% of it.
The three biggest firms run 90% of it between them. The other 10 firms share what is left.
Who runs the money
| Firm | Money held | Share of all fund money | Funds | Coins covered |
|---|---|---|---|---|
| BlackRock (iShares) | $79.75 billion | 3 | 2 | |
| Grayscale | $21.39 billion | 8 | 6 | |
| Fidelity | $17.23 billion | 3 | 3 | |
| Bitwise | $5.52 billion | 6 | 6 | |
| ARK Invest & 21Shares | $2.94 billion | 1 | 1 | |
| VanEck | $1.43 billion | 3 | 3 | |
| Franklin Templeton | $999 million | 4 | 4 | |
| Morgan Stanley | $863 million | 3 | 3 | |
| CoinShares | $492 million | 1 | 1 | |
| Canary Capital | $479 million | 4 | 4 | |
| Invesco Galaxy | $472 million | 3 | 3 | |
| 21Shares | $214 million | 4 | 4 | |
| WisdomTree | $181 million | 1 | 1 |
Money held on 22 Sep 2026, added up by the firm behind each fund. Worked out from the coins each fund holds, at each day's closing price, so it can differ a little from the funds' own figure.
Understanding
Crypto ETF Issuers
Where it stands today
BlackRock (iShares) runs 60% of the money in the US crypto funds we follow, more than any other firm as of .
The three biggest firms run 90% of that money between them as of .
What is an ETF issuer?
An issuer is the firm that runs a fund. It creates the fund's shares, buys and holds the coins behind them, and charges a yearly fee for doing it. Some firms run one fund. Others run one for each of several coins, so a single firm can hold Bitcoin in one fund and Ethereum in another.
How is the money counted here?
We take the coins each fund holds, value them at each day's closing price, and add the funds up by the firm that runs them. A firm's share is its money divided by the money held by every fund we follow on the same day. Worked out this way, the figures can differ a little from what a fund states itself.
Why does it matter who runs the money?
When a few firms run most of the money, what those firms do, such as cutting a fee or closing a fund, moves the whole group. The coin view shows the other side of the same money: whether it is spreading beyond the first coins to get funds, or staying where it started.
Source: The coins each fund holds, valued at our own daily closing price and grouped by the firm that runs each fund. Reading for .