Latest news with #IBIT
Yahoo
2 hours ago
- Business
- Yahoo
Grayscale ETF Head David LaValle to Exit as Firm Eyes IPO: Report
David LaValle, the global head of ETFs at Grayscale Investments, is set to leave the crypto asset manager at the end of July, Unchained reported, citing people familiar with the matter. LaValle joined Grayscale in July 2021 as the firm was grappling with investor dissatisfaction over the widening discount of its flagship Bitcoin Trust (GBTC). At the time, the trust held around $25 billion, making company the largest crypto asset manager. Its price lagged far behind the value of the bitcoin it held, frustrating shareholders. While much of the attention around GBTC's eventual conversion to a spot bitcoin ETF focused on Grayscale's court battle with the SEC, LaValle was instrumental behind the scenes. He worked to secure launch partners and authorized participants, Unchained reports. Still, the conversion hasn't been the growth engine Grayscale might have hoped for. In the year and a half since, BlackRock's iShares Bitcoin Trust (IBIT) has taken overtaken Grayscale's ETF with over $87.9 billion in assets. GBTC's assets have shrunk to under $22 billion, according to SoSoValue data. LaValle's exit follows last year's resignation of CEO Michael Sonnenshein, who was replaced by Peter Mintzberg. The firm confidentially submitted a draft S-1 registration statement with the SEC earlier this month, indicating plans for an IPO. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
3 hours ago
- Business
- Yahoo
BlackRock's Bitcoin ETF Is Outperforming Its S&P 500 FUND
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bitcoin is having such a scorching hot 2025 that BlackRock's (NYSE: BLK) iShares Bitcoin Trust Exchange Traded Fund (NASDAQ: IBIT) is earning more than its vaunted iShares Core S&P 500 ETF (NASDAQ: IVV). According to Bloomberg, the iShares Bitcoin ETF has generated $187.2 million despite only having $52 billion worth of assets under management. BlackRock's iShares Core S&P 500 ETF has over $600 billion in assets under management and has generated $187.1 million in revenue. The revenue figures are very close but the IBIT is radically out-earning the IVV on a dollar-for-dollar basis. Does this mean it's time to dump the iShares Core S&P 500 ETF and go all in on the crypto fund? Not necessarily. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . It's important to get an apples-to-apples understanding of both funds before making any investment decisions. First off, BlackRock's Bitcoin ETF has a significantly higher fee structure than its S&P 500 ETF. BlackRock's website says the IBIT charges an annual fee of 0.25%, compared to the IVV's 0.03%. That explains why BlackRock earns more revenue from the IBIT than the IVV. However, that doesn't automatically mean the IBIT is a better investment option for you than the IVV. The answer to that question depends on several variables, such as your investment goals, risk tolerance, and how much capital you have. It's also good to remember that you can diversify your ETF portfolio by investing in the IBIT and the IVV at the same time. BlackRock established the IBIT to allow traditional investors to make cryptocurrency investments through a traditional broker. The IBIT is a spot fund that uses investor capital to buy bitcoin, which is held in trust. The share price movements up or down are largely based on Bitcoin's spot price. If Bitcoin rises, IBIT share prices increase, and the opposite is true if Bitcoin declines. Trending: New to crypto? on Coinbase. The IBIT's share price has grown from $24.71 to $66.16 since its inception. That's roughly 270% appreciation in share value since January 2024, which makes sense considering Bitcoin's value has been surging for most of that time. The IVV was trading at $470.17 in early January 2024, and it's currently trading at $624.99. That's roughly 130% appreciation in share value over the same period. However, the IVV pays a 1.36% dividend. Its impressive returns can be attributed to the S&P 500's bull run, plus the fact that every stock in the IVV portfolio is from one of the most profitable companies in the U.S. The IVV was trading at roughly $143 at its inception in 2000. That means its shares have appreciated by nearly 440% over the last 25 years. With that said, it's impossible to deny the IBIT has outperformed the IVV since January 2024. However, the IVV's nearly three-decade-long performance track record and its highly diversified nature play strongly in its favor. Yes, Bitcoin is surging, but it has quite a way to go before it can match the S&P 500's historical performance. It's also volatile and subject to wild swings in VV's performance history and the fact that the iVV offers passive income mean it's an expensive share to buy. You can buy almost 10 IBIT shares for the same price as just one IVV share. However, the IBIT is not nearly as diversified as the S&P 500 because, by design, all IBIT holdings are in Bitcoin. With that said,there is no limit to how high Bitcoin can go if it continues gaining favor with investors and regulators. You may look back 25 years from now and be amazed you bought IBIT shares for only $67. The bottom line is that IBIT offers retail investors a transparent, convenient way to invest in Bitcoin. If that's still too adventurous for you, the old, reliable IVV might be more to your liking. Read Next: Accredited investors can —with up to 120% bonus shares—before this Uber-style disruption hits the public markets Image: Shutterstock This article BlackRock's Bitcoin ETF Is Outperforming Its S&P 500 FUND originally appeared on
Economic Times
14 hours ago
- Business
- Economic Times
Michael Saylor's Strategy owns 3% of Bitcoin in circulation after latest purchase
Michael Saylor's Strategy now owns more than 3% of all the Bitcoin ever minted following the crypto treasury company's latest purchase of the original cryptocurrency. ADVERTISEMENT The former MicroStrategy Inc. acquired 6,220 Bitcoin for $739.8 million during the seven days ended July 20, according to a filing Monday with the US Securities and Exchange Commission. This raised the Tysons Corner, Virginia-based firm's holdings to 607,770 Bitcoin — which is about 3.05% of the roughly 19.9 million token issued. The stack is worth about $72 billion. Strategy has been using a combination of common and preferred shares, as well as debt, to fund Bitcoin purchases since it began accumulating the cryptocurrency in late 2020 as a hedge against inflation. Dozens of companies have begun to emulate the practice. Strategy is the world's leading corporate owner of Bitcoin. BlackRock's iShares Bitcoin Trust ETF (IBIT) holds about $86 billion in assets. While some other tokens' unlimited supply has concerned investors, Bitcoin's store of value proposition has been buoyed by the 21 million limit on the number of tokens to be mined. Instructions in the network's original code have further helped to promote the scarcity value of the token — like quadrennial halving events that automatically slash the amount of token rewards miners earn. The last Bitcoin is expected to be issued in the year 2140. Strategy said separately Monday that it planned to offer 5 million of variable-rate Series A perpetual Stretch preferred stock to help finance additional Bitcoin purchases. It is the fourth series of preferred shares by the company. The common shares of Strategy has surged more than 3,500% since Saylor - a founder and executive chairman of the company - began buying Bitcoin. The cryptocurrency has risen about 1,100% during the same period, while S&P 500 has increased around 120%. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
15 hours ago
- Business
- Time of India
Michael Saylor's Strategy owns 3% of Bitcoin in circulation after latest purchase
Michael Saylor's Strategy now owns more than 3% of all the Bitcoin ever minted following the crypto treasury company 's latest purchase of the original cryptocurrency . The former MicroStrategy Inc. acquired 6,220 Bitcoin for $739.8 million during the seven days ended July 20, according to a filing Monday with the US Securities and Exchange Commission. This raised the Tysons Corner, Virginia-based firm's holdings to 607,770 Bitcoin — which is about 3.05% of the roughly 19.9 million token issued. The stack is worth about $72 billion. Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Product Management Finance CXO Operations Management MCA Others Healthcare MBA others Management Technology Cybersecurity Data Science Digital Marketing Data Science Project Management Artificial Intelligence Public Policy Design Thinking Data Analytics Leadership PGDM Degree Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details Strategy has been using a combination of common and preferred shares, as well as debt, to fund Bitcoin purchases since it began accumulating the cryptocurrency in late 2020 as a hedge against inflation. Dozens of companies have begun to emulate the practice. Strategy is the world's leading corporate owner of Bitcoin. BlackRock's iShares Bitcoin Trust ETF (IBIT) holds about $86 billion in assets. Crypto Tracker TOP COIN SETS NFT & Metaverse Tracker 15.58% Buy DeFi Tracker 11.00% Buy Crypto Blue Chip - 5 7.78% Buy AI Tracker 6.81% Buy Web3 Tracker 3.48% Buy TOP COINS (₹) BNB 68,682 ( 3.52% ) Buy Bitcoin 10,319,321 ( 1.58% ) Buy Tether 86 ( 0.11% ) Buy XRP 304 ( -0.87% ) Buy Ethereum 322,583 ( -1.33% ) Buy While some other tokens' unlimited supply has concerned investors, Bitcoin's store of value proposition has been buoyed by the 21 million limit on the number of tokens to be mined. Instructions in the network's original code have further helped to promote the scarcity value of the token — like quadrennial halving events that automatically slash the amount of token rewards miners earn. The last Bitcoin is expected to be issued in the year 2140. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Strategy said separately Monday that it planned to offer 5 million of variable-rate Series A perpetual Stretch preferred stock to help finance additional Bitcoin purchases. It is the fourth series of preferred shares by the company. Live Events The common shares of Strategy has surged more than 3,500% since Saylor - a founder and executive chairman of the company - began buying Bitcoin. The cryptocurrency has risen about 1,100% during the same period, while S&P 500 has increased around 120%.
Time of India
a day ago
- Business
- Time of India
Ethereum ETFs are exploding! $296 million inflows as Bitcoin bleeds $131 million in just one day
Bitcoin ETFs break 12-day winning streak Ethereum ETFs going strong for 12 days Live Events Rotation from Bitcoin to Ethereum happening Institutions are driving the rally FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel On Monday, spot Bitcoin ETFs saw $131 million in net outflows – meaning more money came out than went in. At the same time, Ethereum ETFs (also called Ether ETFs) got $296 million in net inflows – money flowed into them. This means investors are pulling money out of Bitcoin and putting it into Ethereum, according to the report by The ETFs had seen 12 days of positive inflows before this – they had gained $6.12 billion in that period. But on Monday, this winning streak ended. The biggest outflow was from ARKB, a fund by Ark & 21Shares – it lost $77.46 million, as per the funds like Grayscale, Fidelity, Bitwise, and VanEck also saw money leaving. BlackRock's IBIT, the biggest Bitcoin ETF, reported zero flows (no money in or out). Six other ETFs also had zero flows, according to the report by The ETFs had their 12th day in a row of positive inflows on Monday. Total inflow on Monday was $296.6 million. The top inflow came from Fidelity's FETH – it received $126.93 million. Second was BlackRock's ETHA, which got $102 million, as per the smaller funds like Grayscale's Mini Ethereum Trust and Bitwise's ETHW saw inflows. Since their launch on July 24, the 9 Ethereum ETFs have pulled in $3.53 billion in total net inflows. On many days, Ethereum ETF inflows were bigger than those of Bitcoin ETFs, according to the report by The Min Jung from Presto Research said the market is showing a 'familiar rotation' – money is moving from Bitcoin to Ethereum and other big altcoins. Jung explained that Bitcoin has already gone up a lot this year, so some investors feel they're too late and are now turning to Ethereum, as stated by the last week, Bitcoin dominance dropped 5%, showing early signs that investors are shifting money to other coins. Usually, when this happens, it's the start of an 'alt season', where altcoins like ETH rise while Bitcoin stays stable, as per The Block also said this crypto rally is mostly powered by institutional investors, not everyday traders. That means it's still uncertain if the rally will spread to smaller altcoins or stay limited to big ones like ETH. The price updates are: Bitcoin was down 1.27%, trading at $116,868. Ethereum was also down 2.17%, trading at $3,679, as per The Block's price are shifting money to Ethereum as they see it as the next big opportunity after Bitcoin's recent ETFs saw $296 million in net inflows in one day, continuing a 12-day winning streak.
