ETF leaders. Now that the Spot Bitcoin ETF have been approved by the SEC, the race is on. An operation initiated just a few days ago, with leaders already well identified. This was for example the case of the giant BlackRock and its $500 million in inflows in less than 48 hours. But the competition is far from admitting defeat. And the three behemoths of the sector are already sharing 90% of this booming market during the third day of trading.
Grayscale: the leader on borrowed time?
Things are changing very quickly in the all-new spot Bitcoin ETF sector made in US. Despite everything, a certain slowdown is felt after the excitement of the first day of trading and its $3.1 billion on the meter.
Indeed, yesterday – the third day of hostilities – saw the amount of entries increase to $1.8 billion in total. An honorable figure, but which is not the main information to remember. In fact, three players in this market are already grabbing 90% of recorded volumes.
On the podium, it is currently Grayscale’s GBTC which occupies first place in terms of volume. But its ETF Bitcoin recently converted has recorded considerable outflows over the last few days. In fact, he would have lost more than 500 million dollarsaccording to data published on the X network by Bloomberg specialist Eric Balchunas.
BlackRock, hot on the heels of Grayscale in the ETF race
A situation that could benefit the world leader in asset management BlackRockcurrently second in front Fidelity (3rd). This while, at the same time, his boss turns into a Bitcoin salesmanpresented as “an asset that protects you”.
In fact its fund iShares (IBIT) could quickly establish itself as the true champion of liquidity dedicated to a new paradigm of Bitcoin. In any case, the bets are already on…
“The volume of the third day so far is half a billion for the Nine Newborns, who are in good health. (…) IBIT retains its position as most likely to overtake GBTC as the king of liquidity. »
Because while Grayscale tries to plug a leak, BlackRock records entries exceeding $400 million. This within a market considered “healthy” by Eric Balchunas. And a cumulative volume over the first 3 days which now exceeds the $9.5 billion.
Who will be the real leader of the spot bitcoin ETF market ? Leads are already emerging in favor of BlackRock, although the trading of these funds dates back just a few days. But things are changing very quickly, especially when BTC is part of the equation.