Buying and selling has been underway for 90 minutes within the Nice ETF Race of 2024 and it is already clear who the winner can be.
The IBIT ETF from Blackrock has seen 21.65 million shares traded, excess of Fidelities FBTC at 9.01 million, although the dollar-value hole is significantly nearer when you regulate for the relative costs of the ETFs.
As for the rest, it isn’t even shut with ARK at 3.00m and nobody else even within the working.
The irony of the decentralized, anti-establishment ethos of bitcoin working into Blackrock’s arms should not be misplaced:
The opposite one to observe is GBTC, which transformed right now from its closed-end construction to a correct ETF. Volumes are at 24 million shares, which is larger than any full day since July 2022. Nevertheless this product is extra of an arb commerce because it was buying and selling at a 7% low cost to NAV yesterday. Provided that it is up 0.8% in comparison with the 1.0% rise in bitcoin, it would not appear to be that arb is working and the low cost to NAV will stay for now.
