Summary
BlackRock’s iShares Bitcoin Trust (IBIT) has outperformed bitcoin since its launch. While IBIT has experienced losses, it has performed better than other bitcoin ETFs. IBIT and Grayscale Bitcoin Trust (GBTC) are leading in terms of volume, with $334 million and $1 billion today, respectively. The discrepancy between the price of bitcoin and the share price of ETFs is expected, as ETFs offer exposure to the underlying asset. The performance of IBIT and other bitcoin ETFs may indicate investor preferences.
Key Points
1. BlackRock’s iShares Bitcoin Trust (IBIT) has outperformed bitcoin since its launch, with losses of 8.9% compared to bitcoin’s 10.2% decline.
2. IBIT’s share price is performing better than its rivals, including Valkyrie’s BRRR and Franklin Templeton’s EZBC, which are down 10.6% and 10.8% respectively.
3. IBIT and Grayscale Bitcoin Trust (GBTC) are leading in terms of volume, with $334 million and $1 billion traded today, respectively.