Binary trading platforms with better performance and payouts
blackrock bitcoin etf
The initial euphoria for the spot bitcoin ETFs has seemingly dampened and reality is slowly kicking in with inflows recently unable to keep up with the still speedy pace of exits from Grayscale’s Bitcoin Trust (GBTC).
U.S.-listed spot bitcoin ETFs had their busiest day ever on Tuesday as bitcoin’s run for all-time high price turned into a bloodbath, the price tumbling more than 10% after hitting a record above $69,000.
BlackRock’s iShares Bitcoin Trust ETF (IBIT), by far the most successful of the 10 spot bitcoin exchange-traded funds, started trading on the Brazilian stock exchange B3, the company said. The asset manager announced the expansion on Thursday.
Spot bitcoin ETFs had their best day since their debut on Monday, recording $2.4 billion in daily trading volume coupled with strong inflows.
While the new spot bitcoin ETFs have received billions in net inflows since opening for business on Jan. 11, a sizable amount of money has been exiting gold ETFs.
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.
BlackRock will use J.P. Morgan and Jane Street as their authorized participants. Valkyrie has also named Jane Street in addition to Cantor Fitzgerald.
BlackRock declined to comment on the filing.
On the former point, Coinbase is not the largest spot bitcoin exchange. It currently sees somewhere around 2.5% of global daily trading volume, according to BTC/USD trading pair data from CoinGecko and CoinMarketCap. You can quibble about the details, bitcoin trading exchange volumes could also include trading pairs between many currencies, crypto or otherwise.