Category: Forex News, News

BlackRock Now Ahead of Grayscale in Trading Volume

Contents Recent trading volumes  Grayscale’s diminishing outflows The iShares Bitcoin […]

Contents

The iShares Bitcoin Trust (IBIT) has surged ahead of the Grayscale Bitcoin Trust (GBTC) in terms of trading volume. 

Data from Bloomberg Intelligence shows that BlackRock’s product has a $40 million edge, but the data is not final. 

Recent trading volumes 

The iShares Bitcoin Trust (IBIT) posted an impressive volume of $219.3 million. Close behind, the Grayscale Bitcoin Trust (GBTC) experienced a trading volume of $181.7 million.

Other notable funds included the Fidelity Wise Origin Bitcoin Fund (FBTC) with a trading volume of $129.3 million, and the ARK 21Shares Bitcoin ETF (ARKB) which saw volumes reach $48.7 million. 

The Bitwise Bitcoin ETF (BITB) also made its mark with $18.9 million in trades, followed by the Invesco Galaxy Bitcoin ETF (BTCO) at $9.9 million.

Grayscale’s diminishing outflows

Grayscale seems to be witnessing a decrease in outflows, which may bode well for the trust’s stability. 

Grayscale’s outflows have been a significant concern for investors, with the trust reducing its Bitcoin holdings by 5,086 BTC, valued at approximately $218 million. 

However, in the broader landscape, eight ETFs, including the heavyweight Fidelity, have collectively added 8,907 BTC, worth around $382 million, with Fidelity itself contributing 5,422 BTC to this sum. 

These inflows into various ETFs have mitigated some of the bearish sentiment that previously pushed Bitcoin below the $40,000 mark.




Source link

Share this article

Written by : Editorial team of BIPNs

Main team of content of bipns.com. Any type of content should be approved by us.

Leave A Comment

Follow us

Latest articles