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The Great Crypto Flippening: BlackRock’s iShares Bitcoin Trust (IBIT) Officially Surpasses Grayscale Bitcoin Trust (GBTC)

NewsTech

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Bitcoin

Peeved by the relentless redemptions from the Grayscale Bitcoin Trust (GBTC), which are a direct function of the ETF's elevated fee structure, Bitcoin's bulls had been yearning for a so-called flippening event, where one of the other newly launched spot Bitcoin ETFs are able to surpass GBTC's coin holdings, thereby substantially decreasing the constantly bleeding ETF's dampening effect on Bitcoin's price. ✅ Ladies & Gentlemen!! The Bitcoin ETF flippening 👇@BlackRock 's Bitcoin ETF, $IBIT overtook @Grayscale 's $GBTC pic.twitter.com/EJI0aAPim9 — HODL15Capital 🇺🇸 (@HODL15Capital) May 29, 2024 Well, moments ago, the hoped for flippening event finally materialized. As of today, the […]

Read full article at https://wccftech.com/blackrock-ishares-bitcoin-trust-ibit-officially-surpasses-grayscale-bitcoin-trust-gbtc/

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