- BlackRock’s IBIT surpasses Grayscale’s GBTC in daily trading volume.
- IBIT records $219.3 million in volume, outperforming GBTC’s $181.7 million.
- Fidelity’s FBTC follows with $129.3 million, other Bitcoin ETFs trail behind.
In a remarkable turn of events within the ETF market, BlackRock’s IBIT has overtaken Grayscale’s GBTC in terms of trading volume for the initial occasion. A recent update by Bloomberg ETF expert James Seyffart indicates that IBIT has become the first ETF to exceed the trading volume of GBTC in a single day.
Since the introduction of the Bitcoin ETF on January 11, Grayscale, a major financial entity, has been at the forefront in trading volume. A Bloomberg report cited John Hoffman, the Managing Director of Sales and Distribution at Grayscale, stating that GBTC is prevailing in trading volume and has established itself as a legitimate instrument for risk transfer concerning Bitcoin. He further noted that the varied group of GBTC shareholders will persist in implementing tactics that influence both the inflows and outflows.
Recently, the performance of certain ETFs has increased noticeably, with BlackRock’s IBIT, in particular, showing a marked rise in both volume and liquidity. Seyffart had earlier suggested in an X post that IBIT was beginning to match the pace of GBTC. Supporting his earlier statements, on February 2, Seyffart posted that IBIT had surpassed GBTC by a margin of $40 million.
According to the information provided by Seyffart, IBIT has a trading volume of $219.3 million, which exceeds that of GTBC at $181.7 million. Nonetheless, Seyffart noted that “GBTC often experiences a significant increase in trading volume during the final hours of the trading day.”
Trailing closely is the Fidelity Wise Origin Bitcoin Fund (FBTC) from Fidelity, boasting a substantial trading volume of $129.3 million. The ARK 21Shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), and Invesco Galaxy Bitcoin ETF (BTCO) lag significantly, with their trading volumes recorded at $48.7 million, $18.9 million, and $9.9 million, respectively.
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