US SPOT BITCOIN (BTC) ETF has recorded more than $ 2.8 billion in net inflows In the past five days of trading, which has contributed to Bitcoin price driving higher from about $ 85,000 to $ 94,000. Ishares Bitcoin Trust (IBIT) costs $ 1.3 billion of these flows.
Michael Saylor, chairman of the largest listed approach to Bitcoin (MSTR) holder, said “Ibit will be the world’s largest ETF in ten years.” Saylor made comments on the day of the Bitcoin Standard Corporation investor.
To put this in perspective, Ibit currently has a market capitalization of $ 54 billion and on Thursday of over $ 1.5 billion in volume. In comparison, the largest ETF by Market Cap, the Vanguard S&P 500 ETF (VOO), boasts a market capitalization of $ 593.5 billion, more than ten times to be released.
“It is possible, especially if the Ibit starts to take more money than the VOO, but it will need to be well north of $ 1 billion a day -more likely in the range of $ 3 to $ 4 billion days, to get ground. In short, some extraordinary things need to happen, but it is possible,” Balchunas said.
Meanwhile, the annual trading basis for Bitcoin ETFs, investors going to ETF and short CME bitcoin futures, rose to about 10%, from 5% in early April. This increase, in conjunction with a 2,000 BTC increase in futures open interest in the last week, suggests that a portion of Net ETF inflows may not be concentrated direction of bets, but part of the trading basis.
