Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

BlackRock Bitcoin ETF Surpasses Rivals as This Crucial Metric Hits New Record

Published 05/16/2024, 10:12 AM
Updated 05/16/2024, 02:30 PM
© Reuters.  BlackRock Bitcoin ETF Surpasses Rivals as This Crucial Metric Hits New Record

U.Today - Senior ETF analyst for Bloomberg Eric Balchunas has spread the word about the largest spot Bitcoin ETF – BlackRock’s IBIT – surpassing its rival ETFs not only by the amount of Bitcoin held but also by another important metric. This one has skyrocketed, according to a recent tweet published by Balchunas.

The analyst’s post reveals that a surprising 414 reported holders in the fund's first 13F season have been reported. This is a “mind boggling” figure for this metric, the analyst admitted, adding that it “blows away [the] record.”

Balchunas then clarified that even if a newly born ETF gets 20 holders, that is already a big deal very rare.

The analyst provided an infographic to show how far behind some of the other largest spot Bitcoin ETFs stand behind BlackRock (NYSE:BLK). Bitwise’s BITB boasts around 100 reported holders, Fidelity’s FBTC has slightly under 250 and Ark Invest has less than 100.

In the meantime, BlackRock’s ETF keeps seeing zero inflows for the third consecutive day. The other nine spot ETFs have seen positive inflows over the past three days, scooping up $303 million worth of Bitcoin on May 15, according to data shared by the @spotonchain analytics account.

This article was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.