BlackRock’s Bitcoin ETF Rivals Crypto Exchanges

[cryptobro]

BlackRock’s iShares Bitcoin Trust (IBIT) is now processing between $16 billion and $18 billion in daily trading volume, placing it in direct competition with major crypto exchanges. The fund’s activity now exceeds spot trading volumes on Coinbase and is approaching levels seen on Binance.

Since its launch in January 2024, IBIT has grown rapidly and now holds around 70% market share among U.S. spot Bitcoin ETFs. The data reflects increasing participation from institutional investors using regulated financial products instead of direct exchange trading.

[encrypted]

love how blacklisting happens right after the money is already gone

[nihalsari]

ibit competing with exchanges on volume is a pretty big structural shift