BlackRock’s spot Bitcoin ETF captures $111 million with more to reflect, touts premium over Fidelity

Quick Take

BlackRock’s spot ETF, referred to by ticker symbol $IBIT, saw a modest inflow of $111 million on Jan. 11, equivalent to the first gold ETF launch in 2004 of $114 million. However, due to data delays, the full impact of a substantial $1 billion in volume is expected to be reflected in the upcoming flow numbers, according to Balchunas.

The premium percentage stood at 16 basis points, a favorable comparison to Fidelity’s -4 basis points. Market conditions continue to remain tight, which was initially a concern for cash creation, particularly in relation to wide premiums. Despite these concerns, Authorized Participants (APs) and market makers have reportedly performed exceptionally well in managing the situation, as indicated by Balchunas.

The successful management of these conditions by APs and market makers demonstrates the resilience and adaptability of the digital asset market amidst volatile conditions.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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