BlackRock and ProShares’ Bitcoin ETFs Surpassed GBTC’s Daily Volumes
GBTC has led bitcoin ETF volumes, mostly in outflows, since the products started trading in early January.
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GBTC has led bitcoin ETF volumes, mostly in outflows, since the products started trading in early January.
Skybridge Capital founder and managing partner Anthony Scaramucci sees bitcoin {{BTC}} soaring to at least $170,000 after the halving in April, when the number of new bitcoin entering circulation shrinks again.
The BlackRock iShares Bitcoin ETF (IBIT) on Friday became the first of the recently launched spot bitcoin products to reach $2 billion in assets under-management (AUM).
The group of recently launched spot bitcoin exchange-traded funds (ETFs) are seeing combined negative flows for the first time since they opened for trade on Jan. 11 as money moving into funds like BlackRock’s IBIT and Fidelity’s FBTC has failed to keep pace with the exits from Grayscale’s GBTC.
The U.S. Securities and Exchange Commission delayed an application by Grayscale Investments to convert its Ethereum trust product into an exchange-traded fund (ETF), a day after pushing back a decision on an application from BlackRock to launch an ether ETF.
Experts said newcomers in the bitcoin investing game could be enticed by Grayscale, the incumbent with a huge lead.
IBIT’s holdings consist of 99% bitcoin, and nearly $60,000 in fiat, data shows.
Grayscale’s GBTC has seen sizable outflows as investors cash following its conversion to a spot ETF.
Larry Fink has been talking up a spot ether ETF, but index provider CF Benchmarks sees a conundrum when it comes to selling that product.
Data about inflows is still incomplete and market watchers might have to wait until Friday evening for the full picture, Bloomberg analyst Eric Balchunas pointed out.