The iShares Bitcoin ETF (NASDAQ:IBIT) is heating up on Monday as investors weigh their options for the best way to indirectly hold Bitcoin (BTC-USD) as the crypto continues to rally.
The iShares Bitcoin ETF is run by BlackRock (NYSE:BLK). It currently holds 195,985 BTC after adding another roughly 5,000 BTC to the fund last week. Investors will note that BTC is currently trading for about $71,508 at the time of this writing.
This recent purchase has investors comparing the IBIT ETF to MicroStrategy (NASDAQ:MSTR). This is another company that holds Bitcoin as a way for traders to indirectly invest in the crypto. Its latest filing as of Feb. 26 showed it holding 193,000 BTC.
What’s Next for the IBIT ETF?
While the IBIT ETF may have passed MicroStrategy in BTC holdings, it isn’t the largest holder of BTC just yet. That title belongs to the Grayscale Bitcoin Trust (NYSEARCA:GBTC) with its roughly 400,000 BTC held.
It will be interesting to see if the iShares Bitcoin ETF can reach that height in the months to come. The fund has been adding BTC regularly since launching in January, CoinDesk notes.
IBIT is up 3.7% as of Monday morning with more than 17 million shares traded. Its daily average trading volume is about 28.6 million shares.
Investors looking for more of the most recent stock market stories are in luck!
We have all of the hottest stock market news investors need to know about on Monday! That includes the latest news for Coinbase (NASDAQ:COIN) stock, MicroStrategy and Nvidia (NASDAQ:NVDA) shares. All of that info is available at the following links!
More Monday Stock Market News
- Cathie Wood Just Dumped $150 Million of Coinbase (COIN) Stock
- Can MicroStrategy (MSTR) Stock Short Squeeze Even Higher?
- Cantor Fitzgerald Just Raised Its Price Target on Nvidia (NVDA) Stock
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
