New BTC

Bitcoin ETF

Bitcoin

BlackRock’s IBIT ETF is closing in on Grayscale’s GBTC to become the world’s largest spot Bitcoin ETF (exchange-traded fund) after recording inflows for 69 consecutive days.
Since its launch at the start of the year, IBIT ((iShares Bitcoin Trust) has not recorded a single day of outflows. 
But <a href="https://insidebitcoins.com/news/cathie-woods-ark21-shares-bitcoin-etf-surpasses-grayscales-gbtc-in-outflows-for-the-first-time" rel="noopener noreferrer nofollow">GBTC</a> (Grayscale Bitcoin Trust) has suffered a net outflow of $16 billion since January. IBIT’s ongoing inflows and GBTC’s persistent outflows have now narrowed the gap between the two funds to $2 billion.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 iShares Bitcoin ETF now only $2bil behind Grayscale Bitcoin Trust…
 68 straight days of inflows for IBIT.
 68 straight days of outflows for GBTC.
 Wild how quickly this happened.
 via <a href="https://twitter.com/kgreifeld?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@kgreifeld</a> <a href="https://t.co/aG5uOVfM4V" rel="noopener noreferrer nofollow">pic.twitter.com/aG5uOVfM4V</a>
 — Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1781408488700211301?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 19, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="span-style-font-weight-400-fidelity-and-blackrock-gain-momentum-as-gbtc-loses-supremacy-span">Fidelity And BlackRock Gain Momentum As GBTC Loses Supremacy</h2>
GBTC’s supremacy in the Bitcoin ETF market has been diminishing, while competitors BlackRock and Fidelity are growing their market shares at a rapid pace. Over the last week, $89.9 million left GBTC as Fidelity and <a href="https://insidebitcoins.com/news/blackrocks-bitcoin-etf-on-track-to-surpass-grayscales-gbtc-in-as-little-as-two-weeks" rel="noopener noreferrer nofollow">BlackRock</a> experienced respective net inflows of $37.7 million and $18.7 million during the same period.
This trend continued at the end of last week. IBIT took in just under $30 million on Apr. 19, while Fidelity’s fund saw inflows of almost $55 million, according to <a href="https://farside.co.uk/?p=997" rel="noopener noreferrer nofollow">Farside</a> data.
<img decoding="async" src="https://unchainedcrypto.com/wp-content/uploads/2023/08/bitcoin-etfs.jpg" alt="Bitcoin ETFs Explained: What Are They &amp; How Do They Work? - Unchained">
 GBTC’s woes continued on the day as $45.8 million left the fund, still down compared to the $154.9 million outflows that it recorded the previous day.
And Bloomberg ETF analyst Eric Balchunas sees huge potential ahead for IBIT.
 “IBIT now has about 60 holders reported but they only account for a tiny 0.4% of total shares out,” he said in a <a href="https://twitter.com/EricBalchunas/status/1781060849056063728" rel="noopener noreferrer nofollow">post</a> on X. This shows that while investors are slowly investing into these funds, there is still a big pool of potential investors that could still buy into Bitcoin ETFs, Balchunas added.
<h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3>
<ul>
 <li style="font-weight: 400;"><a href="https://www.linkedin.com/pulse/best-altcoins-invest-unveiling-top-picks-maximum-returns-calsona-9ceye/" rel="noopener noreferrer nofollow">Best Altcoins to Invest In: Unveiling Top Picks for Maximum Returns!</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/bitcoin-price-prediction-btc-transaction-fees-soar-after-the-bitcoin-halving-as-traders-flock-to-this-new-btc-ico-for-supercharged-potential" rel="noopener noreferrer nofollow">Bitcoin Price Prediction: BTC Transaction Fees Soar After The Bitcoin Halving As Traders Flock To This New BTC ICO For Supercharged Potential</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/new-gamefi-platform-raises-over-400k-in-days-could-this-be-the-next-100x-presale-gem-on-solana" rel="noopener noreferrer nofollow">New GameFi Platform Raises Over $400K in Days – Could This Be the Next 100x Presale Gem on Solana?</a></li>
</ul>

BlackRock’s IBIT Closes On Grayscale As World’s Largest Bitcoin ETF After 69 Days Of Inflows

목차

Inside Bitcoins

2024년 4월 22일에 게재된 다른 기사

BEFE Coin: Unleashing Wealth Potential Post Bitcoin Halving

FTX Readies to Sell More Solana (SOL): Price Impact

Bitcoin Halving Impact: $206M Outflows from Blockchain Stock

Air Force Carries Out AI Dogfights for Collaborative Combat Aircraft Testing with Focus on Safety

Monetising Telegram: A New Win-Win for Creators and Advertisers

Bitcoin traders forecast $80K+ BTC price after recent funding rate reset

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!