U.S. spot bitcoin (BTC) ETFs have recorded approximately $2.8 billion in net inflows over the past five trading days, contributing to driving the price of bitcoin higher from around $85,000 to $94,000. The iShares Bitcoin Trust (IBIT) has accounted for $1.3 billion of these inflows alone.
Michael Saylor, Chairman of the largest listed bitcoin holder Strategy (MSTR), stated that “IBIT will be the biggest ETF in the world in ten years.” Saylor made the comments at the Bitcoin Standard Corporation’s Investor Day.
To put this into perspective, IBIT currently has a market capitalization of $54 billion and on Thursday over $1.5 billion in volume. In comparison, the largest ETF by market cap, the Vanguard S&P 500 ETF (VOO), boasts a market capitalization of $593.5 billion, more than ten times that of IBIT.
Eric Balchunas, Senior ETF Analyst at Bloomberg, acknowledged the possibility of IBIT becoming the largest ETF, though he emphasized that it would be extraordinary.
“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,” Balchunas noted.
Meanwhile, the annualized basis trade for bitcoin ETFs, investors going long the ETF and short the CME bitcoin futures, has risen to nearly 10%, up from 5% in early April. This increase, coupled with a 2,000 BTC rise in futures open interest over the past week, suggests that a portion of the net ETF inflows may not be purely directional bets, but part of the basis trade.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
The company sold 3,588 bitcoin last week to replenish its dollar reserves for dividends on…
Bitcoin Magazine Strategy (MSTR) Sells 3,588 Bitcoin to Cover Preferred Dividends Strategy sold 3,588 bitcoin…
Bitcoin Magazine Strive (ASST) Adds 17.76 Bitcoin as Falling Prices Boost Its Quarterly Yield Strive,…
Your day-ahead look for July 6, 2026Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
A reading that negative means investors would have been better off in risk-free assets like…
Bitcoin touched $63,882 overnight before retreating to around $62,900, per CoinDesk data. Sunday's high held…