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Crypto

BlackRock\'s BITA listing seen ahead as fee set at 0.65 percent, rivalry with Goldman Sachs bitcoin spot ETF emerges

BlackRock has set the fee for its bitcoin premium income exchange-traded fund, BITA, at 0.65 percent ahead of a planned Nasdaq listing. CoinPost reported that BlackRock filed a fourth amended registration statement with the U.S. Securities and Exchange Commission on June 10. Bloomberg ETF analyst Eric Balchunas said the fee is below two large covered-call bitcoin spot ETFs. He also said BITA appears close to launch, as competition with Goldman Sachs intensifies.

Crypto

NYDIG says BlackRock\'s IBIT $1.26 billion block trade shows signs of urgent liquidation by whale investor

A more than $1.26 billion block trade in BlackRock\'s spot bitcoin ETF iShares Bitcoin Trust (IBIT) last week may have been a large directional investor rapidly unwinding a concentrated position, NYDIG research head Greg Cipolaro said. The sale was executed in a dark pool at a $1.01 discount to market, implying about $29.5 million in concession. Bitcoin fell about 2.8 percent on the day, while U.S.-listed spot bitcoin ETFs have logged 11 straight sessions of net outflows.

Crypto

Bitcoin changes after BlackRock\'s IBIT, analyst says volatility falls and outperforms S&P 500

Bitcoin’s 60-day historical volatility is moving closer to the level seen in spot gold exchange-traded funds, an analysis showed. Eric Balchunas, BlackRock’s senior ETF analyst, said Bitcoin’s volatility and correlation with gold are converging quickly. Since BlackRock’s iShares Bitcoin Trust began operations, Bitcoin’s volatility has fallen and now exceeds the level of spot gold ETFs. He also said IBIT has outperformed stocks and has more than doubled SPY since BlackRock filed for a spot bitcoin ETF.