According to Bloomberg Research Analyst James Seyphart, Bitcoin ETFs are growing in size and liquidity. His latest tweet shows that BlackRock's IBIT ETF and other third-party Bitcoin ETFs are starting to take market share from Grayscale's GBTC.
His tweet shows that BlackRock had a daily trading volume of $480.8 million on January 6, indicating increased liquidity. Meanwhile, it shows that Grayscale's GBTC trading volume reached $649 million.
Mr. Seyphart finds that bitcoin ETFs have been well received. Although there was not a significant increase, corporate ETFs began to increase in trading volume, reducing GBTC's market share.
Its data indicates that in addition to BlaclRock's IBIT, other ETFs also saw an increase in daily trading volumes, with Fidelity's FBTC at $333.9 million, and Ark and Bitwise with $100.4 million and $64.3 million, respectively.
Overall, Bitcoin ETF trading volume over the past 11 days totaled $24 billion, with GBTC trading remaining at around $12 billion. He said that GBTC's trading volume over the past 10 days reached $744 million, and it has assets worth $5.53 billion.
Based on various data, Seyfart believes that Bitcoin ETFs are continuing to grow. He also believes the money will flow into different companies' Bitcoin ETFs, not just one company.
source: edition
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