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Post: BlackRock’s IBIT vs. Grayscale’s GBTC: Catching Up in Bitcoin Holdings

BlackRock’s IBIT vs. Grayscale’s GBTC: Catching Up in Bitcoin Holdings

Key Points:

  • BlackRock’s iShares Bitcoin Trust (IBIT) could surpass Grayscale’s Bitcoin Trust ETF (GBTC) in terms of Bitcoin holdings.
  • IBIT had a daily inflow of $24.9 million on April 17, nearing its lowest inflow of $20.4 million on April 9.
  • IBIT currently holds a market share of 32.6%, close to Grayscale’s GBTC market share of 36.8%.
  • Grayscale’s GBTC is the largest spot Bitcoin ETF with holdings of $19 billion worth of Bitcoin.

BlackRock’s IBIT vs. Grayscale’s GBTC:

BlackRock’s IBIT is making significant progress in catching up to Grayscale’s GBTC regarding Bitcoin holdings. Despite relative low daily inflows, IBIT’s market share is gradually approaching that of GBTC.

Impact of Inflows on IBIT:

The daily inflows on April 17 for IBIT, combined with its consistent performance, indicate a growing interest from investors. Despite not hitting its highest levels, the steady flow of funds is contributing to the ETF’s increasing market share.

Grayscale’s Dominance and IBIT’s Challenge:

Grayscale’s GBTC has long been a dominant player in the Bitcoin ETF market, holding a substantial amount of Bitcoin. However, BlackRock’s IBIT is now posing a formidable challenge, inching closer to surpassing GBTC in terms of Bitcoin holdings.

Hot Take:

BlackRock’s IBIT potentially surpassing Grayscale’s GBTC in Bitcoin holdings showcases the evolving landscape of Bitcoin investment and the competition among ETF providers. This shift could indicate changing investor preferences and the continued growth of cryptocurrency adoption within traditional finance.

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