A potential fee war could break out in Hong Kong over these #Bitcoin & #Ethereum ETFs. Harvest coming in hot with a full fee waiver and the lowest fee at 0.3% after waiver. Tables are from my colleagues Rebecca Sin & Sebastien Cabral!

$IBIT inflow streak now 71 days which has it officially in the Top 10 all time after passing the ETF One Hit Wonder $JETS (remember JETSanity?). Also passed $BND and $VEA which are cash vacuum cleaners. Lot of mountain still left to climb tho. h/t Sebastien Cabral

Nice look at where all the trading is happening for the spot bitcoin ETFs.. off exchange is huge.

#Shorts : The Big Three take 88% of the new Spot Bitcoin volumes, while JP Morgan Securities dominates off-exchange trades -- evidenced by FINRA's ADF reporting infrastructure.

The BlackRock and Fidelity Bitcoin ETFs have seen inflows for 59 consecutive days, ranking them among the top 20 ETFs of all time!

The record is 160 days.

#Bitcoin 🚀🚀🚀

h/t Eric Balchunas & Sebastien Cabral

Happy 50 Straight Days of Inflows to all who celebrate.. Here's look at top ETFs by 'active' inflow streaks, $IBIT and $FBTC on top, shows how weird 50 days is (and unheard of for new etf, altho long ways to beat all time record of 160 days set by $JEPI) via Sebastien Cabral

$IBIT and $FBTC have now taken in cash for 49 straight days, something only 30 other ETFs have ever done (and none of them did it right out of gate). Among active streaks they 4th after $COWZ $CALF (which are over 100 days, damn) and $SDVY. Great chart from Sebastien Cabral

New from me on how conquering gold ETFs could be too easy a goal for the spot bitcoin ETF.. the early flows and volume are just overwhelming, sets strong foundation for growth. Ok to think bigger now.

Love working with Eric Balchunas! He brings the wildest ideas and we just test them! Love this chart, so many stories here!

Another month, another record haul for $CALF, which is on a 46 month flow streak. No small cap ETF has taken in more cash in the past 12mo, impressive feat for an mid-level issuer in category includes Vgrd, Blk and DFA/Avantis from our upcoming Outliers note ht Sebastien Cabral

Fresh off the press, our Asia Q4 Report. We saw varying bouts of performance by issuer, last quarter, yet no major surprises in question. Mainland China, no surprise. Indian issuers outperforming that of Taiwan, South Korea and Japan -- who all had a great year.

Eric Balchunas Sebastien Cabral Yeah, this shouldn’t be bid/ask spread for a US ETF. That isn’t allowed by the exchanges under Reg NMS. It could be discount to NAV

I am assuming this is the revert back to NAV trade, unwinding. Given it was trading at a discount, moving to an ETF should close that discount.

Eric Balchunas Sebastien Cabral Impressive analysis, showcasing the extensive listing reach of the $IBIT ETF across different exchanges and throughout the day. Its fascinating to observe the dynamics of trading volume by time and location. Kudos to Sebastien Cabral for the insights! #Finance #DataAnalysis

Eric Balchunas I think you've 100% nailed it. I suspect a lot of this may even be negotiated trades: 'I have 10k GBTC to swap to BITB' and market makers are packaging the pricing across pairs. (Not impossible to tease out by running all the tapes ... i'll poke at it if i have time later, love

Negative spreads on $GBTC seemingly appeared on Day 2 of trading last week. Fairly unusual in trading terms but extremely interesting!

Here’s another one showing Day One vs Day Two volume by ETF and time of day. Notice the middle of the day got stronger on Day Two, that’s good sign of organic usage vs day one being heavy on pre-lined up volume via Sebastien Cabral