{"id":9707,"date":"2024-01-11T15:07:49","date_gmt":"2024-01-11T13:07:49","guid":{"rendered":"https:\/\/forklog.com\/en\/blackrocks-spot-bitcoin-etf-trades-at-a-25-premium\/"},"modified":"2024-01-11T15:07:49","modified_gmt":"2024-01-11T13:07:49","slug":"blackrocks-spot-bitcoin-etf-trades-at-a-25-premium","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/blackrocks-spot-bitcoin-etf-trades-at-a-25-premium\/","title":{"rendered":"BlackRock&#8217;s Spot Bitcoin ETF Trades at a 25% Premium"},"content":{"rendered":"<p>During the pre-market session on January 11, ahead of its Nasdaq debut, BlackRock&#8217;s spot Bitcoin ETF (IBIT) <a href=\"https:\/\/finance.yahoo.com\/quote\/IBIT\">exceeded<\/a> its <span data-descr=\"net asset value\" class=\"old_tooltip\">NAV<\/span> by 25.6%.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-873.webp\" alt=\"1-873\" class=\"wp-image-223675\"\/><figcaption class=\"wp-element-caption\">Source: Finance.Yahoo.<\/figcaption><\/figure>\n<p>On the evening of January 10, the U.S. Securities and Exchange Commission (SEC) announced the approval of 11 applications for spot exchange-traded funds based on the leading cryptocurrency.<\/p>\n<p>BlackRock was among the approved issuers, alongside Bitwise, Grayscale, Hashdex, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity, and Franklin Templeton. Trading is expected to commence on January 11 at 17:30 MSK (16:30 Kyiv).<\/p>\n<p>According to Bloomberg analyst Eric Balchunas, the product&#8217;s turnover has already exceeded $2 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24IBIT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$IBIT<\/a> has already traded $2m worth of shares traded. That would be a great first FULL day for a normal ETF let alone at 6am bf mkt, BUT.. this volume is likely BlackRock orchestrated, slowly loading in the BYOA $ it had lined up. Still tho good early sign of big day. <a href=\"https:\/\/t.co\/IV19iHfqYB\">pic.twitter.com\/IV19iHfqYB<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1745404645336301810?ref_src=twsrc%5Etfw\">January 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThat would be a great first full day for a normal ETF, let alone at 6am EST. But [\u2026] this volume is likely orchestrated by BlackRock, slowly loading in the demand it had gathered. Still a good early sign of a big day,\u201d<\/em> commented the expert.<\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/finance.yahoo.com\/\">Finance.Yahoo<\/a> has also added the converted Bitcoin trust (GBTC) from Grayscale to its list of tracked instruments. Its pre-market quotes <a href=\"https:\/\/finance.yahoo.com\/quote\/GBTC\/?p=GBTC\">are trading<\/a> without significant changes.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-689.webp\" alt=\"2-689\" class=\"wp-image-223676\"\/><figcaption class=\"wp-element-caption\">Source: Finance.Yahoo.<\/figcaption><\/figure>\n<p>Balchunas noted that the instrument now has a description in the Bloomberg terminal and an ETF tag.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Just like that <a href=\"https:\/\/twitter.com\/search?q=%24GBTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$GBTC<\/a> has completed its transition into an ETF. It&#8217;s got the ETF-tag and DES page on Bloomberg. It is bringing a (volume) gun to a knife fight today but on flip it has that advisor-repelling 1.5% fee. Will be fascinating to see how those two things offset or dont <a href=\"https:\/\/t.co\/PgHoNZlf6B\">pic.twitter.com\/PgHoNZlf6B<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1745405686920429902?ref_src=twsrc%5Etfw\">January 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cToday [GBTC] is bringing a (volume) gun to a knife fight, but its fee is 1.5%. It will be interesting to see how these two factors offset each other,\u201d<\/em> noted the analyst.<\/p>\n<\/blockquote>\n<p>Before the start of trading in the U.S., Bitcoin is showing moderate growth. Over 24 hours, it has increased by 3.2%, according to <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/p>\n<p>Earlier, GTS&#8217;s co-head of ETF trading and sales, Reggie Brown, <a href=\"https:\/\/u1f987.com\/en\/news\/expert-predicts-premiums-for-spot-bitcoin-etfs\">predicted<\/a> the formation of premiums for spot Bitcoin ETFs.<\/p>\n<p>Back on January 11, the second-largest cryptocurrency by market capitalization tested the $2600 level, reaching marks last seen in early May 2022. Some market experts are convinced that the SEC will soon give the &#8220;green light&#8221; to spot Ethereum ETFs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>During the pre-market session on January 11, ahead of its Nasdaq debut, BlackRock&#8217;s spot Bitcoin ETF (IBIT) exceeded its NAV by 25.6%. Source: Finance.Yahoo. On the evening of January 10, the U.S. Securities and Exchange Commission (SEC) announced the approval of 11 applications for spot exchange-traded funds based on the leading cryptocurrency. BlackRock was among [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[865,569,1214,943,1211],"class_list":["post-9707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blackrock","tag-etf","tag-grayscale-bitcoin-trust","tag-grayscale-investments","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/9707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=9707"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/9707\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/9706"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=9707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=9707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=9707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}