Blackrock, Fidelity Bitcoin ETFs Have a Liquidity Edge Over Grayscale: JPMorgan
GBTC is expected to lose further funds to newly created ETFs unless there is a meaningful cut to its fees, the report said.
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GBTC is expected to lose further funds to newly created ETFs unless there is a meaningful cut to its fees, the report said.
Only 17 days after its launch, the BlackRock iShares Bitcoin Trust (IBIT) has become one of the top five exchange-traded funds (ETFs) of 2024 based on inflows, according to data from Bloomberg Intelligence.
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.