iShares Bitcoin Trust ETF (IBIT)

[trunkmonk]

beware of sources, bias is extreme in BTC world. https://www.msn.com/en-us/money/markets/are-retail-investors-interested-in-crypto-jpmorgan-findings-differ-from-google-s/ar-BB1iMx95?ocid=msedgdhp&pc=U531&cvid=1f00fbf1ceef48479687ff239332d338&ei=13
However, this analysis stands in stark contrast to observations of surprisingly low public interest levels, as indicated by Google search trends.

According to Trevor Filter, co-founder of digital payments platform Flexa, retail investors tend to have more opportunities when the use cases become more clear.

Crypto critics often point out the lack of utility and viability when it comes to digital assets.

"Has anybody... ever bought something using Bitcoin as a currency? A sandwich? A computer? A book? Anything?" Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, recently asked.

[trunkmonk]

Also be prepared when in any markets or own coins or ETFs, cyber attacks can make it difficult to use what you own or get what you need. this applies to banks as well. https://www.zerohedge.com/geopolitical/whos-behind-cyber-attacks

[trunkmonk]

IBET and crypto bets....RTFs are a trade people, watch BTC futures, its everything you need to know about where IBIT and crypto as a whole are going. dont follow crypto news sites, they are completely bias. ETFs are a transfer of wealth, if you trade them you can score with them. monday should be a gap up for IBIT, trade well and you can retire long before 30 years in the market.
FYI, IBIT is not a way to buy bit coin, you can never settle you shares, or redeem with BTC, its a trading tool.

[squidster]

30 yrs of reading prospectus has served me and my clients well. Just keeping it real which is why I provide links in my posts.
Would be nice if all would educate themselves prior to posting especially those posting as an authority figure on IBIT. Start here:
https://www.blackrock.com/us/individual/products/333011/ishares-bitcoin-trust
https://www.investors.com/news/bitcoin-etfs-keep-almost-all-their-eggs-in-one-basket-is-that-a-bad-thing/

[squidster]

https://news.bitcoin.com/blackrocks-bitcoin-etf-holdings-near-110k-btc/

[squidster]

Read the prospectus "Backed by bitcoin held by the Bitcoin Custodian on behalf of the Trust"

https://www.ishares.com/us/library/stream-document?stream=reg&product=IUS-IBIT-J&shareClass=NA&documentId=2212465&iframeUrlOverride=%2Fus%2Fliterature%2Fprospectus%2Fp-ishares-bitcoin-trust-12-31.pdf pg.2

Good luck

[trunkmonk]

Use ur 30 years of knowledge, u can do it, start with any commodity, work back to ETFs, IBIT is the same. If u can’t figure it out, that’s ok, u will see it sooner or later.

[squidster]

What do futures have to do with IBIT?

[trunkmonk]

U done stalking me u clown? Guess not.

[trunkmonk]

IBIT or other, U better do some homework on futures.

[squidster]

If IBIT and BTC go up and down the same exact percent that's a direct correlation.
WTF?

[squidster]

IBIT holds bitcoin not BTC futures so the premise is flawed

[trunkmonk]

Contango is decay, management fee is management fee. I’ve known this for decades. Both are part of any ETF that based on futures. I’ll keep it simple in case some decides to take something I said out of context. Direct Correlation simple explanation, IBIT and BTC go up and down the exact same percent, and they do not move exactly the same, not direct correlation of price. Understand it anyway u want. Good luck. I posted several days worth of pricing, if u want u can go find exact price of each and calculate percent move. I’ve done my homework already.

[squidster]

It was stated that the IBIT management fee is "contango" not my words someone else's. A management fee is not "contango"
How can there be no direct correlation of price movement between IBIT and BTC. IBIT portfolio is 99.9% BTC holdings.
It's not complicated.
https://www.ishares.com/us/products/333011/ishares-bitcoin-trust

[trunkmonk]

Ibit, BTC, they are trades, else your investment can and will disintegrate or decay, over time, depending on direction of device it’s based on, no matter what an investment clown advisor may tell u, or try to tell me. If BTC goes only up, u will not notice anything other than gains in IBIT, so it’s definitely market price dependent more than anything else. ETF managers know this.

[trunkmonk]

Accept your understanding of contango is flawed, it has to do with futures, since IBIT is based on BTC, and BTC is a futures commodity on CME, there is no direct correlation of price movement between BTC and IBIT because of that unknown in futures markets, its complicated, not simple, too many shares, not enough shares, not enough buys too many buys. its an ETF, simply put, a indirect investment device. actually any source other than crypto news or ETF tracker is the best way to understand them. i love this one, cause to does include the hype involved, cause people dont really understand them.

https://markets.businessinsider.com/news/currencies/ether-bitcoin-price-return-comparison-cryptocurrency-market-etf-hype-investors-2024-2

[trunkmonk]

but the logic is completely wrong about IBIT, sorry, its a fact, facts and logic are rarely the same anymore in crypto world.

[trunkmonk]

Ill address this directly instead of just letting false information continue. No, contango has to do with futures, any kind, especially the kind CME has on their exchange. and it absolutely involves BTC, which is on CME and many other places, which will directly impact any ETF that plays on those futures. so people can take their 30 years experience and go curve ball any of the millions of ignorant that are in crypto. i will refute every false info anyone tries to put here or anywhere crypto pyramid schemes thrive.
having said that, i love this ETF, it may make me lots of money.

[trunkmonk]

no worries, ive been getting those kind of basic questions for about that long too, and then someone dey advanced level of thinking.
again, good luck and lets hope u dont get stuck in the wrong crypto for a good part of the next 30.
i should have listened to the pros, before during and after the first couple market dumps starting in 1987, I would be retired like them and never needed to ask anything of markets again. dey all gone

So roughly BTC performance minus management fee, correct?

[squidster]

Thanks, been doing this for over 30 yrs. Pretty confident in my understanding of how IBIT and ETF's work.

[MrCheap]

Bought a few shares and im green, as for bitcoin stocks i guess same, not where i made my money..lol not going to go broke here lol but love a new market

[trunkmonk]

I don’t own any board. And 99% of the crypto lemmings are clueless to markets and finance, as well as what etf’s do. Somehow they think crypto is like nothing that existed before, and in some ways it’s true, but mostly in all bad aspects. It’s a learning curve that the latest generation will come to understand, I would say by 2026. They will all see everything differently, and not for any of the reasons they think. Be careful and diligent is the best thing I can say.

[trunkmonk]

Good luck with that.

[MrCheap]

Im on yalls board well ours now i guess, let er rip tater chip…

[trunkmonk]

R u looking for logic or fantasy?

[MrCheap]

Guess well just see where she goes, $IBIT

[squidster]

Halving bitcoin will have no impact to shareowners if IBIT

[squidster]

Contango has to do with the futures market and commodity prices. IBIT is an open ended ETF not a commodity.
BlackRock has created an open ended ETF that gives the public exposure to BTC without having to own BTC and the costs associated with that.
Do we expect BlackRock to run the fund for free?

IBIT is an "open ended fund" comprised of shares of BTC and cash. Investors understand they don't own shares of BTC and nobody that buys IBIT expects to own shares of BTC. At least I hope they understand that. $$ come in share count goes up, $$ go out share count goes down that's how open ended funds work. There is no need for reverse or forward splits.

Who is receiving the "transfer of wealth" from IBIT? BlackRock, shareowners, the government? Just curious

[MrCheap]

What would halving bitcoin do for us, just joined yall, new here.

[trunkmonk]

29.4 so far today, BTC 51.6k

[trunkmonk]

minus management fee

another word for contango or decay, dey always get their money. They use investors money to buy BTC coins, which investors will never see, and charge fees to manage the account. this ETF is just a transfer of wealth, absolutely unequivocally.
if they have to they will do reverse splits, they will, or forward, they will. but if u buy the etf u will never see a coin, and the splits wont change how many coins they hold.

[squidster]

So roughly BTC performance minus management fee, correct?

[trunkmonk]

Ibit follows BTC trend, but at slightly different percentage

[squidster]

Keep on rolling, rolling, rolling rolling 🤑

[trunkmonk]

28.60, up 5% today. BTC 50k.

[trunkmonk]

Currently 26.95. BTC over 47k

[trunkmonk]

Currently 25.90. BTC over 45k

[Turbomunkey]

Thank you sir. Have a nice evening and good luck.

[squidster]

You nailed it Turbomonkey

[Turbomunkey]

Can anyone chime in? Is the only benefit of this ETF that you can invest in BTC without actually having a wallet or the physical coin? I am not seeing a dividend or interest paid for holders? Is that correct? Thanks

[trunkmonk]

Currently 24.88. Up on BTC bumps

[trunkmonk]

Ill give you a hint, go find out why Milken went to jail, it will tell you everything you need to know about Crypto world.

[squidster]

Milken\Saylor = pyrite\bitcoin

[trunkmonk]

What formula?

[squidster]

I didn't see that formula in the prospectus can you provide link 🤣

[squidster]

They have to accumulate coin if investors are buying their ETF, right?

[squidster]

can you provide link?

[squidster]

No, that's just the seed $$ to get the ETF started. IBIT is an open ended ETF that issues new shares in 40,000 blocks based on the flow of funds in and out of the fund.
The fund currently has 91 million shares outstanding

https://www.ishares.com/us/products/333011/ishares-bitcoin-trust

[trunkmonk]

Currently 22.81. Up a bit from lows earlier in the week.

[Mikey]

Ok from what I can tell each BTC x .0005697 = IBIT........for instance 40,518 x .0005697 = 23.08 the actual price is 23.16.........close enough for me!