BlackRock Bitcoin ETF Overtakes Grayscale GBTC: Volume Surge Driven by ETF Competition

The launch of spot Bitcoin ETFs has dramatically reshaped the cryptocurrency investment landscape. Recent data highlights a significant shift, with BlackRock's iShares Bitcoin Trust (IBIT) emerging as a major competitor to Grayscale's Bitcoin Investment Trust (GBTC).

BlackRock’s iShares Bitcoin Trust (IBIT) beat out Grayscale’s trading volumes by at least $10 million, logging trading volume of $302 million compared to Grayscale’s $292. This signals a growing investor preference for BlackRock's offering. Further illustrating this trend, Grayscale BlackRock’s spot bitcoin BTC$96,324.70 exchange-traded fund (ETF) is now the largest product of its kind, flipping Grayscale's GBTC after a $102 million inflow on a recent trading day.

This competition has had a notable impact on GBTC. Trading volume of Grayscale's Bitcoin Investment Trust (GBTC) has increased 400% since asset management firm BlackRock filed for a spot bitcoin ETF. While GBTC experienced a surge in volume initially, BlackRock's IBIT has since surpassed it in total BTC holdings. El ETF de Bitcoin de BlackRock superó en BTC al GBTC de Grayscale en solo 96 días. El IBIT posee 288.671 BTC mientras que el GBTC tiene 287.454.

The ETF race is far from over, but BlackRock's ascent underscores the growing importance of spot Bitcoin ETFs in the mainstream investment world. The increased volume, now pushing towards levels like 80 million and beyond for both, highlights the sustained interest and liquidity in these new investment vehicles.