{"id":10545,"date":"2024-02-08T17:30:00","date_gmt":"2024-02-08T15:30:00","guid":{"rendered":"https:\/\/forklog.com\/en\/blackrock-and-fidelity-bitcoin-etfs-surpass-gbtc-in-liquidity\/"},"modified":"2024-02-08T17:30:00","modified_gmt":"2024-02-08T15:30:00","slug":"blackrock-and-fidelity-bitcoin-etfs-surpass-gbtc-in-liquidity","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/blackrock-and-fidelity-bitcoin-etfs-surpass-gbtc-in-liquidity\/","title":{"rendered":"BlackRock and Fidelity Bitcoin ETFs Surpass GBTC in Liquidity"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin ETFs from BlackRock and Fidelity have outpaced GBTC in two liquidity metrics.<\/li>\n<li>Net inflow into spot exchange-traded products based on digital gold continued for the ninth consecutive day.<\/li>\n<li>IBIT entered the top 5 ETFs by inflows since the beginning of the year.<\/li>\n<\/ul>\n<\/div>\n<p>Spot Bitcoin ETFs from BlackRock and Fidelity have surpassed <span data-descr=\"Grayscale Bitcoin Trust ETF\" class=\"old_tooltip\">GBTC<\/span> in two liquidity metrics, according to JPMorgan, reports <a href=\"https:\/\/www.theblock.co\/post\/276611\/blackrock-fidelity-bitcoin-etf-gbtc-jpmorgan\">The Block<\/a>.<\/p>\n<p>One indicator is the market breadth measure based on the <a href=\"https:\/\/archive.unescwa.org\/sd-glossary\/hui-heubel-ratio\">Hui-Heubel ratio<\/a>. This measure is approximately four times lower for <span data-descr=\"iShares Bitcoin Trust\" class=\"old_tooltip\">IBIT<\/span> and <span data-descr=\"Fidelity Wise Origin Bitcoin Fund\" class=\"old_tooltip\">FBTC<\/span> compared to their competitor.<\/p>\n<p>The second indicator is based on the average deviation of the ETF&#8217;s closing price from its <span data-descr=\"net asset value\" class=\"old_tooltip\">NAV<\/span>. The metrics of the two exchange-traded funds have approached those of the popular SPDR Gold Shares, a trend not observed with Grayscale&#8217;s product.<\/p>\n<p>Analysts explained that liquidity metrics are not limited to those mentioned but do show a certain advantage of IBIT and FBTC over GBTC.<\/p>\n<p>They believe that if Grayscale Bitcoin Trust ETF continues to charge high fees, investors will prefer to move capital to competing instruments.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Latest Market Summary<\/strong><\/h2>\n<p>According to SoSoValue, on February 7, the total net inflow into spot exchange-traded funds based on the first cryptocurrency was $146.1 million. The positive trend continued for the ninth consecutive day.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">According to SoSoValue, on February 7, the total net inflow of Bitcoin spot ETFs was US$146 million, which has been net inflows for nine consecutive days. The Grayscale ETF GBTC had a single-day net outflow of US$80.78 million, and the other nine ETFs except Grayscale had a total\u2026<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1755534373640978528?ref_src=twsrc%5Etfw\">February 8, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The net outflow from GBTC reached $80.78 million, offset by inflows into competitors ($225 million). Of this amount, $130.13 million went to FBTC, and $56.19 million to IBIT.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-909.webp\" alt=\"1-909\" class=\"wp-image-225654\"\/><figcaption class=\"wp-element-caption\">Data: sosovalue.xyz.<\/figcaption><\/figure>\n<p>Since the approval of ETFs, investors have withdrawn $6.23 billion from GBTC, reducing its <span data-descr=\"assets under management\" class=\"old_tooltip\">AUM<\/span> to $20.68 billion. Competitors have attracted $8.05 billion, including $3.3 billion to IBIT and $2.81 billion to FBTC. The net inflow into this category reached $1.82 billion.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-710.webp\" alt=\"2-710\" class=\"wp-image-225655\"\/><figcaption class=\"wp-element-caption\">Data: sosovalue.xyz.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\"><strong>New Records for IBIT<\/strong><\/h2>\n<p>According to Bloomberg analyst Eric Balchunas, IBIT has entered the top 5 in ETF flows since the beginning of the year [FBTC rose to eighth place in this ranking].<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Also <a href=\"https:\/\/twitter.com\/search?q=%24IBIT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$IBIT<\/a> now in Top 5 in YTD flows, which means it&#8217;s taken in more cash than 99.98% of ETFs. Not bad for 17 days old. <a href=\"https:\/\/t.co\/ehAsZWRoqK\">pic.twitter.com\/ehAsZWRoqK<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1754870450411172323?ref_src=twsrc%5Etfw\">February 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThis means it has attracted more funds than 99.98% of ETFs. Not bad for a 17-day-old instrument,\u201d<\/em> commented the specialist.<\/p>\n<\/blockquote>\n<p>On February 3, IBIT and FBTC entered the top ten largest US exchange-traded funds by asset inflows.\u00a0<\/p>\n<p>Earlier in Hong Kong, which <a href=\"https:\/\/forklog.com\/en\/news\/hashkey-identifies-bitcoin-etf-aspirants-in-hong-kong\">is on the path<\/a> to launching spot Bitcoin products, lawmakers <a href=\"https:\/\/forklog.com\/en\/news\/hong-kong-urged-to-lead-on-crypto-etfs\">urged<\/a> to expedite the initiative.<\/p>\n<p>Analysts at ARK Invest have forecasted a rise in the price of digital gold to $120,000-$2,300,000 by 2030.<\/p>\n<p>They cited drivers such as the <a href=\"https:\/\/forklog.com\/en\/news\/sec-approves-all-11-spot-bitcoin-etf-applications\">approval of spot Bitcoin ETFs<\/a>, halving, institutional adoption, and further reduction of regulatory uncertainty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin ETFs from BlackRock and Fidelity have outpaced GBTC in two liquidity metrics. Net inflow into spot exchange-traded products based on digital gold continued for the ninth consecutive day. IBIT entered the top 5 ETFs by inflows since the beginning of the year. Spot Bitcoin ETFs from BlackRock and Fidelity have surpassed GBTC in two [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[865,569,1248,1214,1145,1150],"class_list":["post-10545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blackrock","tag-etf","tag-fidelity-investments","tag-grayscale-bitcoin-trust","tag-market-analysis","tag-news-plus"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10545"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10545\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/10544"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}