X @Arkham

1 - BlackRock’s brand image and reputation attracts flows for Bitcoin, which has accelerated their IBIT ETF to almost $100B AUM.2 - BlackRock’s ETF has a significantly lower management fee than the previous incumbent GBTC (0.25% vs 1.5%), which has led to a slow but steady arbitrage of assets flowing out of GBTC and into IBIT.3 - It is possible that BlackRock also reports its ETF flows on a T+1 basis relative to other ETFs. For example, if there are large flows for Monday, but limited/negative flows on Tues ...