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While the US SEC is preparing to validate an Ether ETF, the first Bitcoin trackers are getting positive reviews. Blackrock's IBIT, Fidelity's FBTC, and Grayscale's GBTC are the stars of the show. All is well for them. The financial industry is clapping with both hands and Wall Street is dancing the billion-dollar tango.
Bitcoin ETF Strong, Stock Market Shakes
In just five months and 13 days, a US spot Bitcoin ETF A memorable performance last Tuesdayattracting a large influx of $305.7 million. It was so Positive inflow for seven consecutive daysIt's truly a money fest!
Among the players of this financial ballet company, Blackrock IBIT Shining brightly, I captured it alone 94.86% of total inflows. Yes, 94.86% correct! It represents a small fortune $280 million. meanwhile, Fidelity FBTC I had to settle for crumbs, but still almost $26 million.
Meanwhile, other spot Bitcoin ETFs remained frozen, with no inflows or outflows, like forgotten dancers at the sidelines of the stage.
Behind the scenes, Blackrock's IBIT currently holds 281,883.90 BTCIt is in a nearly even battle with Grayscale's Bitcoin Trust (289,511.90). IBIT requires only 7,628 BTCa fraction of its rival's $536 million.
the current, Only GBTC, IBIT, and FBTC can boast holdings of more than 100,000 BTC eachFBTC holds 159,548.77 BTC, valued at $11.21 billion.
BlackRock's IBIT: A leader by a long shot
A lightning strike hits the upper echelons of the financial world! BlackRock's IBITAlthough it is a spot Bitcoin ETF, It has 414 institutional investors under its umbrella.reports Bitcoin.com. The latest SEC filings reveal that the fund is attracting big names, which is a real boon for Bitcoin.
Bloomberg senior analyst Eric Balchunas didn't mince words, calling the performance:amazing”. For him, Attracting 20 holders to a newly launched ETF is already an achievement, or 414 cases (out of 1,500 reported in 3 months)…this is science fiction. No other Bitcoin ETF launched in January has generated such enthusiasm.
In comparison, Bitwise Bitcoin ETF, Fidelity Wise Origin Bitcoin Fund (FBTC), and ARK 21shares Bitcoin ETF have struggled to keep pace.
Millennium Management LLCundisputed leader among holders, showcase 20,859,447 shares, valued at $844 millionRight behind him, Schonfeld Strategic Advisors LLC holds 6,128,450 shares.valued at $248 million. The Wisconsin Investment Commission also participated with 2,450,400 shares.
Grayscale Bitcoin Trust (GBTC), Veterans in this field are proud 619 Institutional InvestorsHowever, this doesn't take into account the recent conversion to spot Bitcoin ETFs, giving this financial dinosaur a new lease of life.
The numbers speak for themselves. As of May 16, IBIT holds 276,190 BTC, or over $18 billion. This week has been fruitful with cumulative inflows. US Bitcoin ETF $948.3 million.
BlackRock CEO Larry Fink is an avid Bitcoin fan and didn't miss the opportunity to highlight that IBIT is the fastest growing ETF of all time. Who would have thought that a tuxedo-clad Bitcoin would attract so many guests?
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The blockchain and cryptocurrency revolution is underway! And today, with the world economy in its most fragile state, despite all the difficulties, I wonder what I should do.
Disclaimer
The views, thoughts and opinions expressed in this article are those of the author and should not be taken as investment advice. Please conduct your own research before making any investment decisions.
