U.Today – Eric Balchunas, senior ETF analyst for Bloomberg, has spread the word that the largest spot ETF, BlackRock's IBIT, outperforms its rival ETFs not only by the amount of Bitcoin held, but also by another important metric. This has skyrocketed, according to a recent tweet published by Balchunas.
The analyst post reveals that there have been a surprising 414 reported holders in the fund's first 13F season. This is an “amazing” figure for this metric, the analyst admitted, adding that “it is impressive [the] record.”
Balchunas then clarified that even if a newborn ETF gets 20 holders, that is already a big problem, very rare.
The analyst provided an infographic to show how far behind some of the other largest spot Bitcoin ETFs are behind BlackRock (NYSE:). Bitwise's BITB has around 100 reported holders, Fidelity's FBTC has just under 250, and Ark Invest has fewer than 100.
Meanwhile, the BlackRock ETF continues to receive no inflows for the third day in a row. The other nine spot ETFs have seen positive inflows over the past three days, netting $303 million worth of Bitcoin on May 15, according to data shared by analytics account @spotonchain.
This article was originally published on U.Today.
