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BITO outpaced IBIT with $40 billion in July trades, Eric Balchunas notes

BITO outpaced IBIT with $40 billion in July trades, Eric Balchunas notes
BITO doubles IBIT in July ETF trades

Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, reports that BITO is currently the sixth most traded ETF, with $40 billion traded in July compared to $20 billion for IBIT.

Balchunas observes this is highly unusual, as IBIT previously dominated BITO due to ETF investors’ preference for spot over futures products. He notes that typical basis trading does not fully explain BITO’s volume, suggesting that some other arbitrage strategies may be at play.

Balchunas has previously tracked other market milestones, including when Invesco's 27-year control over the Nasdaq index ended earlier this year. He has also raised doubts about Grantham's bitcoin skepticism, referencing several past inaccurate forecasts in a separate analysis. These observations reflect Balchunas’s continued monitoring of ETF and crypto market developments.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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