BlackRock's IBIT bitcoin spot ETF surpasses GLD in daily trading

[DigitalToday reporter Yoonseo Lee] BlackRock's bitcoin spot exchange-traded fund (ETF), the iShares Bitcoin Trust ETF 'IBIT', rose more than 5 percent in daily trading. It surpassed the 대표 gold ETF, 'GLD', in both trading volume and gains.

The Crypto Basic, a blockchain media outlet, reported on Sept. 18 local time that IBIT posted $1.56 billion in turnover in the session. That ranked it fifth in ETF market turnover.

IBIT traded around $45.81 to $45.86 intraday, with a daily gain of about 5.8 to 5.9 percent. At the same time, SPDR Gold Shares 'GLD' traded around $398.96 and rose 0.15 percent. Its turnover was tallied at $907.64 million, ranking ninth.

The gap between the two products was clearer in turnover. IBIT's turnover was about $652 million higher than GLD's, or about 72 percent more. In the same session, IBIT ranked four places higher than GLD.

The difference in gains was also large. The gap between IBIT and GLD's daily gains was about 5.75 percentage points.

The market is in a 분위기 of taking the day's move as a signal of funds flowing into bitcoin-related assets. Bloomberg ETF analyst Eric Balchunas pointed out on his social media that IBIT ranked fifth in overall ETF turnover, while GLD ranked ninth. He said GLD often ranks higher and raised the possibility that bitcoin's price rise was larger on the day.