US SPOT BITCOIN (BTC) FNB recorded approximately $ 2.8 billion in net entries in the last five days of negotiation, contributing to the increase in the Bitcoin price of about $ 85,000 to $ 94,000. The Ishares Bitcoin Trust (IBIT) represented $ 1.3 billion in these entries alone.
Michael Saylor, president of the biggest Bitcoin Coté (MSTR) holder, said that “Ibit will be the largest ETF in the world in ten years”. Saylor made the comments during the Bitcoin Standard Corporation investor day.
To put this in perspective, Ibit currently has a market capitalization of $ 54 billion and Thursday more than $ 1.5 billion in volume. In comparison, the largest ETF of market capitalization, the Vanguard S&P 500 ETF (VOO), has a market capitalization of $ 593.5 billion, more than ten times that of the Ibit.
Eric Balchunas, senior ETF analyst at Bloomberg, recognized the possibility of becoming the largest ETF, although he stressed that it would be extraordinary.
“It is possible, especially if Ibit is starting to take more money than Voo, but that would require entrances to north of $ 1 billion a day – more likely in the range of 3 to 4 billion dollars a day, to gain ground. In short, some extraordinary things should happen, but it is possible,” noted Balchunas.
Meanwhile, the trade in the annualized database for Bitcoin ETF, investors going to the FNB for a long time and runs CME Bitcoin Futures, increased to almost 10%, against 5% in early April. This increase, associated with an increase of 2,000 BTC in the interests open in the long term during last week, suggests that part of the entries of FNB net is perhaps not purely directional bets, but part of the basic trade.
