Bitcoin ETF

BlackRock’s IBIT Bitcoin ETF is the Most Successful New ETF in 4 Years

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2 hours ago

October 24, 2024

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Ever since BlackRock filed for its spot Bitcoin ETF last year, Bloomberg ETF analysts Eric Balchunas and James Seyffart have been providing valuable insights and data regarding everything Bitcoin ETFs. If you’re not already following either of them on X, I highly recommend you do.

Today, Balchunas shared a new mind blowing statistic about BlackRock’s spot Bitcoin ETF IBIT specifically. Over the last four years, there were over 1,800 ETFs launched in the United States. Out of all of those, IBIT has taken in the most inflows at over $26 billion dollars.

BlackRock had another giant inflow of $323 million yesterday, massively outperforming all its competitors. I’m not sure if it’s just their brand name alone that’s able to out compete the other ETFs, or if they’re marketing IBIT to their customers behind the scenes that is making their ETF a standout success. Probably a bit of both and then some.

These numbers once again highlight that spot Bitcoin ETFs have been a smashing success in America. Since launch, these ETFs have together seen inflows in 9 out of the last 10 months, and I feel like these inflows are not going to stop anytime soon, especially as we head further into the bull market.

While I would much rather see investors who hold their own keys, I understand that might not be suitable for large corporations and small retail investors who don’t want the responsibilities that come with self custody.

Whether you like it or not, the institutions are here and they are driving up the price of Bitcoin (for now). I’m super interested to see how these ETFs will hold up in a bear market, and if they will HODL or if we will see record outflows. Only time will tell.

This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

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Bitcoin ETF

DOGE, XRP Lead Crypto Majors Decline as Bitcoin ETFs Bleed $80M

Published

2 days ago

October 23, 2024

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The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market capitalization, fell nearly 2% while bitcoin lost 1%. Traders, however, foresee a run to $80,000 in the coming weeks as the U.S. elections draw near, regardless of who is elected president.

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Bitcoin ETF

NYSE, CBOE to list Bitcoin ETF options after SEC approval

Published

5 days ago

October 20, 2024

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The U.S. Securities and Exchange Commission has granted “accelerated approval” for listing Bitcoin options exchange-traded funds on the New York Stock Exchange and the Chicago Board Options Exchange.

According to Oct. 18 filings, the SEC has greenlighted the NYSE and CBOE to list and trade options for Bitcoin ETFs.

Options give investors the right to buy or sell an asset—referred to as “call” or “put” options—at a specific price before an agreed date. This move is expected to open up new opportunities for investors seeking to manage risk or capitalize on Bitcoin price fluctuations.

In its NYSE approval, the regulator wrote options trading could result in “better price efficiency” and “less volatility” for the underlying Bitcoin ETFs, potentially stabilizing the broader market.

“Permitting the listing of such options would enhance the transparency and efficiency of markets in these and correlated products,” the filing added.

For NYSE, options trading will be available for 11 ETF providers which include:

Fidelity Wise Origin Bitcoin Fund
ARK21Shares Bitcoin ETF
Invesco Galaxy Bitcoin ETF
Franklin Bitcoin ETF
VanEck Bitcoin Trust
WisdomTree’s Bitcoin Fund
Grayscale Bitcoin Trust
Grayscale Bitcoin Mini Trust
Bitwise Bitcoin ETF
BlackRock’s iShares Bitcoin Trust ETF
Valkyrie Bitcoin Fund

Meanwhile, the SEC also approved options listings for these funds on the CBOE with the only exception being Grayscale’s Bitcoin Mini Trust.

Earlier in 2024, the SEC had already approved Nasdaq’s application to list and trade options for BlackRock’s iShares Bitcoin Trust.

Investors see the approval of options for Bitcoin ETFs as a key development that could bring additional liquidity to Bitcoin markets. Jeff Park, Bitwise Invest’s head of alpha strategies, called this development a “game-changing” for cryptocurrency markets.

Other market observers noted that Wall Street’s involvement could significantly boost Bitcoin markets once trading begins. See below.

Meanwhile, the SEC delayed the approval of options trading for spot Ethereum ETFs, initially expected by the end of September, and has extended the review period to mid-November.

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Bitcoin ETF

NYSE, Cboe Win SEC Approval for Bitcoin (BTC) ETF Options

Published

5 days ago

October 20, 2024

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In its NYSE approval, the SEC wrote that it believes options on the bitcoin ETFs “would permit hedging, and allow for more liquidity, better price efficiency, and less volatility with respect to the underlying Funds,” as well as “enhance the transparency and efficiency of markets in these and correlated products.”

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