Key Highlights

• The recent inflows into Bitcoin ETFs reached $2.8 billion over a span of five trading days, propelling Bitcoin’s price from approximately $85,000 to $94,000.
• IBIT, the iShares Bitcoin Trust, was responsible for $1.3 billion of these total inflows.

Expert Opinion

Michael Saylor, the Chairman of the significant Bitcoin holding company MicroStrategy, declared that “IBIT will be the largest ETF globally in a decade.” These comments were made during the Bitcoin Standard Corporation’s Investor Day.

“It’s possible, especially if IBIT starts taking in more cash than VOO, but that would require inflows well north of $1 billion a day—more likely in the range of $3 to $4 billion daily, to gain ground. In short, some extraordinary things would have to happen, but it’s possible,” says Eric Balchunas from Bloomberg.

Currently, IBIT boasts a market cap of $54 billion, significantly less than the leading ETF, Vanguard’s S&P 500 ETF (VOO), which is valued at $593.5 billion. The annualized basis trade for Bitcoin ETFs has increased to nearly 10%, a sign of a growing interest in these financial instruments.