0%
#Bitcoin#Cryptocurrency investment#Volatility+2 más etiquetas

BlackRock Takes the Lead in Spot Bitcoin ETF Race

29 may 2024 2 min read
Imagen de cabecera del artículo

BlackRock’s iShares Bitcoin Trust (IBIT) has achieved a significant milestone in the world of crypto finance by surpassing Grayscale Bitcoin Trust (GBTC) to become the largest spot Bitcoin exchange-traded fund (ETF).

Recent data reveals that IBIT now boasts $19.68 billion in Bitcoin (BTC), edging out GBTC’s $19.65 billion. This shift in dominance underscores the evolving landscape of crypto financial products.

Why Grayscale's GBTC Lost Its Top Position

Grayscale’s GBTC charged a hefty 1.5% fee, significantly higher than its competitors. This fee structure led to a gradual loss of investor appeal, especially as alternatives like BlackRock’s IBIT offered lower fees.

BlackRock's accomplishment reflects the growing institutional interest in Bitcoin and the competitive dynamics within the ETF market. Meanwhile, GBTC experienced a substantial single-day outflow of $105 million, highlighting the shift in investor sentiment.

The broader Bitcoin ETF sector, however, continues to witness positive trends, with a net inflow of $45.14 million reported on May 28, 2024. This marks an 11-day streak of net inflows across 11 US Bitcoin ETFs.

BlackRock's IBIT has attracted investments from its income and bond-focused funds, including the BlackRock Strategic Income Opportunities Fund (BSIIX) and the Strategic Global Bond Fund (MAWIX). While these investments represent only a fraction of their respective portfolios, they signify growing institutional confidence in Bitcoin.

The total holdings of Bitcoin by ETFs have now exceeded 1 million BTC, constituting nearly 5% of the total Bitcoin supply. This milestone underscores the significant impact of ETFs on the broader Bitcoin market.

In terms of regional activity, the US remains a key hub for Bitcoin inflows, recording $1.03 billion in inflows last week. Additionally, European countries like Germany and Switzerland have also reported notable inflows.

Looking Ahead: Despite volatile price movements, the overall sentiment in the market remains positive, with digital asset investment products recording inflows for the third consecutive week. This surge in activity has propelled the total value of digital asset exchange-traded products (ETPs) close to $98.5 billion, reflecting the increasing mainstream adoption of cryptocurrencies.

Automatiza
tus
operaciones.

Bot automatizado de clase mundial para el comercio de criptomonedas

Comencemos
Automatiza tus operaciones

Noticias populares

How to Set Up and Use Trust Wallet for Binance Smart Chain
#Bitcoin#Bitcoins#Config+2 más etiquetas

How to Set Up and Use Trust Wallet for Binance Smart Chain

Your Essential Guide To Binance Leveraged Tokens

Your Essential Guide To Binance Leveraged Tokens

How to Sell Your Bitcoin Into Cash on Binance (2021 Update)
#Subscriptions

How to Sell Your Bitcoin Into Cash on Binance (2021 Update)

What is Grid Trading? (A Crypto-Futures Guide)

What is Grid Trading? (A Crypto-Futures Guide)

¡Comienza a operar gratis con Cryptohopper!

Uso gratuito, sin tarjeta de crédito.

Comencemos
Cryptohopper appCryptohopper app

Descargo de responsabilidad: Cryptohopper no es una entidad regulada. El comercio de bots de criptomoneda implica riesgos sustanciales, y el rendimiento pasado no es indicativo de resultados futuros. Las ganancias mostrados en las capturas de pantalla de los productos tienen fines ilustrativos y pueden ser exagerados. Participe en el comercio con bots únicamente si posee conocimientos suficientes o busque la orientación de un asesor financiero cualificado. Bajo ninguna circunstancia Cryptohopper aceptará responsabilidad alguna ante ninguna persona o entidad por (a) cualquier pérdida o daño, total o parcial, causado por, derivado de o en relación con transacciones que impliquen nuestro software o (b) cualquier daño directo, indirecto, especial, consecuente o incidental. Tenga en cuenta que el contenido disponible en la plataforma de comercio social Cryptohopper es generado por los miembros de la comunidad Cryptohopper y no constituye asesoramiento o recomendaciones de Cryptohopper o en su nombre. Las ganancias mostrados en el Marketplace no son indicativos de resultados futuros. Al utilizar los servicios de Cryptohopper, usted reconoce y acepta los riesgos inherentes al comercio de criptomonedas y se compromete a eximir a Cryptohopper de cualquier responsabilidad o pérdida en que incurra. Es esencial revisar y comprender nuestras Condiciones de servicio y Política de divulgación de riesgos antes de utilizar nuestro software o participar en cualquier actividad comercial. Consulte a profesionales jurídicos y financieros para obtener asesoramiento personalizado en función de sus circunstancias específicas.

©2017 - 2024 Copyright por Cryptohopper™ - Todos los derechos reservados.