BlackRock’s IBIT | GBTC Daily Trading Volume Takeover

BlackRock’s iShares Bitcoin Trust (IBIT) has made waves by surpassing Grayscale’s Bitcoin Trust (GBTC) in daily trading volumes. On a historic Thursday, IBIT traded a whopping $303.4 million, edging past GBTC’s $291 million. This shift marked a pivotal moment as the first spot Bitcoin Exchange-Traded Fund (ETF) to outpace Grayscale since their January debut.

The rise of Bitcoin ETFs has become a focal point for investors. According to a recent report, the collective Bitcoin ETF applicants for the 11 available spots possess around 3.3% of the total current Bitcoin supply. As per the latest information provided by Ycharts, the circulating supply of Bitcoins stands at 19.61 million.

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