Breaking: BlackRock’s IBIT Surpasses Grayscale’s GBTC in Trading Volume

• BlackRock’s IBIT surpasses Grayscale’s GBTC in trading volume for the first time.
• IBIT boasts a daily trading volume of $219.3 million, surpassing GBTC’s $181.7 million.
• Fidelity’s FBTC secures third place with a trading volume of $129.3 million.

In an astounding development in the ETF ecosystem, BlackRock’s IBIT has surpassed Grayscale’s GBTC in trading volume for the first time. According to the recent post shared by Bloomberg ETF analyst James Seyffart, IBIT is apparently the first ETF to surpass GBTC in a day.

Since the Bitcoin ETF launch on January 11, the financial giant Grayscale has been leading the arena in terms of trading volume. According to a Bloomberg report, John Hoffman, Grayscale’s Managing Director of Sales and Distribution, commented that GBTC has been “dominating trading volume and has already solidified its role as a true capital markets tool for risk transfer in Bitcoin.” He added, “GBTC’s diverse shareholder base will continue to deploy strategies that impact inflows and outflows.”

However, over the past few days, other ETFs, especially BlackRock’s IBIT, have been spiking up, exhibiting significant growth in volume and liquidity. In a previous X post, Seyffart posited that IBIT is “catching up” with GBTC. Reinforcing his claims, Seyffart shared a post on February 2, asserting that IBIT is ahead of GBTC by $40 million.

As per the data shared by Seyffart, IBIT boasts a trading volume of $219.3 million, surpassing GTBC’s $181.7 million. However, he added, “GBTC tends to have massive closing volume in the last couple hours of the day.”

Close behind is Fidelity’s Fidelity Wise Origin Bitcoin Fund (FBTC), which has an impressive trading volume of $129.3 million. ARK 21Shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), and Invesco Galaxy Bitcoin ETF (BTCO) are far behind with trading volumes at $48.7 million, $18.9 million, and $9.9 million, respectively.