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加密貨幣新聞文章

貝萊德比特幣 ETF 飆升,挑戰灰階王座

2024/04/19 03:00

隨著貝萊德 (BlackRock) 的 iShares 比特幣信託 (IBIT) 相對於灰階 (Grayscale) 長期存在的比特幣信託 ETF (GBTC) 的上漲,比特幣交易所交易基金 (ETF) 市場正在發生轉變。儘管 GBTC 佔 36.8% 的市場份額,但 IBIT 的快速累積和較低的費用(0.25% vs GBTC 1.5%)正推動其成長至 32.6%。兩檔 ETF 的資金流入均出現放緩,同時比特幣價格也出現下跌。

貝萊德比特幣 ETF 飆升,挑戰灰階王座

BlackRock's Bitcoin ETF Dominance Heats Up, Challenging Grayscale's Legacy

貝萊德的比特幣 ETF 主導地位升溫,挑戰灰階的傳統

The Bitcoin exchange-traded fund (ETF) market is witnessing a transformative shift, with BlackRock's iShares Bitcoin Trust (IBIT) steadily gaining ground on the long-established leader, Grayscale's Bitcoin Trust ETF (GBTC).

比特幣交易所交易基金 (ETF) 市場正在經歷一場變革,貝萊德 (BlackRock) 的 iShares 比特幣信託 (IBIT) 穩步超越長期領先的灰度 (Grayscale) 比特幣信託 ETF (GBTC)。

Market Share Battle Intensifies

市佔率爭奪戰愈演愈烈

As of April 17, IBIT's market share has surged to 32.6%, rapidly approaching Grayscale's dominant 36.8%. This growth is fueled by IBIT's lower 0.25% fee compared to Grayscale's hefty 1.5% fee, making it a more attractive option for cost-conscious investors.

截至4月17日,IBIT的市佔率已飆升至32.6%,迅速逼近灰階的主導地位36.8%。與 Grayscale 1.5% 的高額費用相比,IBIT 的 0.25% 費用較低,推動了這一成長,這使其成為注重成本的投資者更具吸引力的選擇。

Accumulation Surge

累積激增

IBIT's rapid accumulation has also drawn attention. Since its launch, IBIT's Bitcoin holdings have skyrocketed over 10,200%, rising from a mere 2,621 BTC to its current position of 272,550 BTC. In contrast, Grayscale's Bitcoin holdings have declined by 50% before the Bitcoin halving, dwindling from 619,220 BTC on January 11 to 308,105 BTC.

IBIT的快速累積也引起關注。自推出以來,IBIT 的比特幣持有量已飆升超過 10,200%,從區區 2,621 BTC 增至目前的 272,550 BTC。相比之下,灰階的比特幣持有量在比特幣減半前已下降了 50%,從 1 月 11 日的 619,220 BTC 減少至 308,105 BTC。

Bitcoin Price Dip Coincides with Trends

比特幣價格下跌與趨勢一致

The recent dip in Bitcoin's price, which fell 10.7% during the previous week, has coincided with a slowdown in net inflows for both ETFs. This suggests that price fluctuations can impact investor sentiment and subsequent ETF investment.

比特幣價格近期下跌(上週下跌 10.7%),同時兩檔 ETF 淨流入放緩。這表明價格波動會影響投資者情緒和後續 ETF 投資。

Grayscale's Sell-Off Moderates

灰階的拋售放緩

Grayscale's sell-off, which raised concerns in the past, has shown signs of moderation. However, Grayscale's overall higher trading fee remains a competitive disadvantage compared to IBIT's lower fee structure.

灰度的拋售過去曾引起人們的擔憂,但現在已經顯示出放緩的跡象。然而,與 IBIT 較低的費用結構相比,Grayscale 整體較高的交易費用仍然是競爭劣勢。

Timeline Overview

時間表概述

The shift in market dynamics can be traced back to several key milestones:

市場動態的轉變可以追溯到幾個關鍵的里程碑:

  • Before Jan 11: Grayscale Bitcoin Trust (GBTC) holdings stood at 619,220 BTC.
  • Jan 11, 2024: iShares Bitcoin Trust (IBIT) launched with initial holdings of 2,621 BTC.
  • March 11: Weekly net inflows into Bitcoin ETFs peaked at $2.58 billion.
  • March 13: IBIT recorded its highest daily net inflows of $866 million.
  • March 19: Grayscale experienced its 4th largest outflow event of $607 million.
  • April 17: IBIT market share reached 32.6%, while GBTC held 36.8% with $19 billion in Bitcoin. IBIT's holdings stood at 272,550 BTC, while GBTC's holdings had declined to 308,105 BTC. Daily net inflows into IBIT slowed down to $24.9 million, and Grayscale's outflows dwindled to $79 million.
  • April 17-18: Bitcoin price dipped to a low of $59,768.

Implications and Outlook

1 月11 日之前:灰階比特幣信託(GBTC) 持有量為619,220 BTC。比特幣ETF 的每週淨流入達到高峰25.8 億美元。日:IBIT市佔率達32.6%,而GBTC以190億美元的比特幣佔36.8%。 IBIT 的持有量為 272,550 BTC,而 GBTC 的持有量已降至 308,105 BTC。 IBIT 的每日淨流入放緩至 2490 萬美元,灰度的流出減少至 7900 萬美元。

BlackRock's IBIT is emerging as a serious contender to Grayscale's long-held dominance in the Bitcoin ETF space. Its competitive fee structure and impressive accumulation rate position IBIT as a formidable force. While it remains to be seen if IBIT can ultimately dethrone GBTC, the race for market share is undoubtedly heating up.

貝萊德 (BlackRock) 的 IBIT 正在成為灰階 (Grayscale) 在比特幣 ETF 領域長期佔據主導地位的有力競爭者。其具有競爭力的費用結構和令人印象深刻的累積率使 IBIT 成為一股強大的力量。雖然 IBIT 能否最終取代 GBTC 還有待觀察,但市場份額的競爭無疑正在升溫。

This competition could benefit investors by driving down costs and increasing accessibility to Bitcoin exposure. As the cryptocurrency market matures, the landscape of Bitcoin ETFs is likely to undergo further transformations, with new players and innovations emerging to shape the future of digital asset investing.

這種競爭可以降低成本並增加比特幣投資的可及性,從而使投資者受益。隨著加密貨幣市場的成熟,比特幣 ETF 的格局可能會發生進一步的轉變,新的參與者和創新的出現將塑造數位資產投資的未來。

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2024年12月29日 其他文章發表於