IBIT

templatexyz

My portfolio consists of BTCX, IBIT & MSTE with Wealthsimple.

Forded_Fiction24

I do both. Self custody wallet and then have FBTC and IBIT within my Roth IRA. The tax advantage could be insane in the long run, but also there's risk to consider which is why I also have 2 different ETF's who use different custodians

Western-Source710

If buying via an ETF like IBIT, then you just use a margin loan through your brokerage. If you have actual BTC, I would imagine there would be some cold storage rule, plus the blockchain is public information so the bank could immediately see if the coins moved (if left in custody of the owner, not the lender), etc.

Naive_Bat8216

Would you say then that IBIT is a better buy than Strategy?

NerdFarming

If BTC goes up more than 11% in a year, by owning STRC you're just making money for Saylor. I'd much rather just stack the underlying asset BTC or IBIT.

Naive_Bat8216

Self custody? Could you please tell me what that means? Is my best way to buy bitcoin through Strategy? The upside on Strategy seems huge if bitcoin rebounds to 125,000 or so, or should I go IBIT?

A1JX52rentner

But isnt the IBIT adress for example publicly known?

Glazindon1

For context, I already own some spot bitcoin, IBIT, and ASST. I’m probably at around 35% allocated to bitcoin at the moment. Will be much higher if I fill port my TFSA into an ETF, I also considered MSTR the CAD hedged version of MSTR

JoeSmith716

I have IBIT, BITX, BITO, BTC, GBTC. Also a coinbase account and MSTR stock, probably the equivalent of 5 or 6 bitcoins.

donnie1977

What does GameStop have to do with IBIT?

Curious_Bytes

Yeah, the question is who is actually doing this because they’re taking massive risk. I suspect this leverage is NOT actually happening and this is just made up. Could IBIT be pledged as collateral and used to get leverage? Absolutely. Is it 20 to 1 or even 10 to 1? I doubt it, the VaR on IBIT is likely high and the risk folks on the street likely won’t allow their banks to take that type of extreme risk.

Logical-Tax-4462

MSTR can be wild ride though, goes both ways pretty hard. I've been watching it for while and when BTC drops even little bit MSTR just gets hammered way worse For that amount maybe split between direct BTC and some of these ETFs? The yields look nice but always check what's behind them first. I learned this hard way with some other "safe" crypto yields lol IBIT seems solid choice if you want exposure without dealing with wallets and all that

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Post is by: Bcom_Mod and the url/text [ ](https://goo.gl/GP6ppk)is: /r/bitcoin_com/comments/1sls8fp/goldman_sachs_just_filed_for_a_bitcoin_income_etf/ Something shifted in the Bitcoin ETF landscape this week that's worth understanding properly, because the headline might not adequately capture why it matters. Goldman Sachs filed yesterday, for a Bitcoin Premium Income ETF. Structure: the fund gains exposure through existing spot Bitcoin ETPs, then systematically sells covered call options against that position: somewhere between 40% and 100% of its Bitcoin exposure at any given time. The premium collected from selling those calls gets distributed as income. Trade-off: capped upside. If Bitcoin rips past the call strike price, you don't fully participate. What you get in return is yield in an asset class that otherwise produces nothing. BlackRock filed a nearly identical product last week. Two of the three largest asset managers on earth, within days of each other, building income-generating Bitcoin products. The first wave of spot ETFs: IBIT, FBTC, MSBT, were essentially "Bitcoin, but in a brokerage account." Clean price exposure products. They attracted people who wanted BTC performance and could stomach the volatility. The income ETF is a fundamentally different pitch aimed at a fundamentally different investor. Retirees who need yield. Fixed-income allocators whose mandates require income-generating assets. Endowments with distribution requirements. The wealth management client who asks their advisor "what does it pay?" These people have been structurally excluded from Bitcoin exposure because Bitcoin pays nothing and swings 40-50% in a cycle. A covered call ETF changes both of those objections simultaneously: it generates yield, and the sold calls provide a partial buffer against downside volatility. [Goldman's fund won't hold Bitcoin directly](https://news.bitcoin.com/goldman-sachs-files-for-bitcoin-premium-income-etf-with-covered-call-strategy/), will be actively managed by named GSAM portfolio managers, and has a launch window of late June or early July after the 75-day SEC registration period. Active management is a meaningful detail here. Goldman is committing ongoing research resources, not just filing a passive wrapper. If you step back: we now have spot ETFs from BlackRock, Fidelity, Morgan Stanley, ARK, Bitwise. Income ETFs from BlackRock and Goldman incoming. Schwab and E\*Trade launching direct crypto trading in H1 2026. The entire distribution infrastructure of American finance is being wired up to Bitcoin simultaneously, in a bear market, while Fear & Greed sits at 11. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

BigPapaSnickers

I own about $80k of IBIT... so kind of but not really

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Post is by: Bcom_Mod and the url/text [ ](https://goo.gl/GP6ppk)is: /r/bitcoin_com/comments/1sgd7c9/morgan_stanleys_bitcoin_etf_goes_live_today_93/ $MSBT becomes effective today, April 8th, on NYSE Arca. For context on what this actually means: Morgan Stanley Wealth Management oversees $9.3 trillion in client assets. Their 16,000 financial advisors can now pitch a Morgan Stanley-branded Bitcoin ETF as their own house product: not a third-party fund they're reluctantly offering access to, their own fund at 0.14% annually. That undercuts BlackRock's IBIT at 0.25% by 11 basis points. Bloomberg ETF analyst Eric Balchunas called it a "semi-shock" when the fee dropped. James Seyffart's reaction was simply "WOW." Strategy's CEO Phong Le did the maths publicly: Morgan Stanley recommends a 0–4% Bitcoin allocation for clients. A 2% allocation across their AUM would be $160 billion. BlackRock's IBIT, the fastest-growing ETF in Wall Street history, currently has about $55 billion. So even a modest shift in how Morgan Stanley's advisors allocate client capital could create inflows that dwarf what IBIT has built over two years. The distribution angle is the story here, not the product itself. BlackRock built the best-known Bitcoin ETF. Fidelity built one with institutional credibility. [But Morgan Stanley has a private client wealth management network](https://news.bitcoin.com/morgan-stanley-bitcoin-etf-expected-tomorrow-as-massive-inflow-speculation-builds/) that specifically reaches the demographic most underexposed to Bitcoin: older, wealthier, advisor-driven investors who wanted the exposure but needed someone they already trusted to package it for them. That population hasn't moved yet in any meaningful size. This all lands while BTC is at \~$69K, Fear & Greed is at 13, and sentiment surveys are about as bearish as they've been all year. Every institutional access point that gets built during this drawdown is supply that will matter when conditions change. Worth watching first-day inflows closely. IBIT did around $112M on day one in January 2024. MSBT has a different distribution base and a fee advantage. The opening number will tell you something about how ready that advisor channel actually is. The bank that took two years of ETF approvals to finally launch its own product chose to do it while BTC is 45% off ATH. Make of that what you will. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

No_Investigator3369

regular stocks have a 2 day rule. I've paid this long for IBIT I'm not selling today and missing a hormuz pump. I'm gonna wait till there's a no news period. But I'll definitely be switching.

sean_hash

0.14% fee undercutting IBIT is the real headline here.

Immediate-Engine9837

Honest take - volume comparison matters less than what it tells you about advisor demand. IBIT's numbers reflected supply shock, it was the first legit option for wealth managers. Morgan Stanley's entry isn't really competing on day-one volume, it's just giving advisors at that firm the option to include it in portfolio construction. The adoption story is whether traditional wealth managers without Bitcoin products start losing client pitches to this optionality, tbh.

TheRadishBros

Will be interesting to see how the volume compares to IBIT.

coinfeeds-bot

tldr; Morgan Stanley’s spot bitcoin ETF, the Morgan Stanley Bitcoin Trust (ticker: MSBT), is set to begin trading on the NYSE on April 8. It will be the first BTC ETF launched by a major U.S. commercial bank and will be distributed across about 16,000 Morgan Stanley financial advisors overseeing $6.2 trillion in client assets. The fund will charge a 0.14% fee, lower than BlackRock’s IBIT by 11 basis points. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

LetWinnersRun

MSBT is going to have 0.14%, IBIT and FBTC have 0.25%

Todo_es

Nice: "Morgan Stanley’s spot Bitcoin ETF appears set to begin trading Wednesday after the SEC declared the Morgan Stanley Bitcoin Trust effective and the bank filed its final prospectus. Bloomberg ETF analyst Eric Balchunas said in a post on X that the fund looks set to go live April 8, citing a screenshot of the NYSE listing notice. The trust is expected to trade on NYSE Arca under the ticker MSBT. The filing confirms Morgan Stanley is entering the crowded US spot bitcoin ETF market with a physical product that will hold Bitcoin directly and track the CoinDesk Bitcoin Benchmark 4 PM NY Settlement Rate. The trust will not use leverage, derivatives, or active trading to try to outperform Bitcoin. The product also arrives with aggressive pricing. Morgan Stanley disclosed a 0.14% annual delegated sponsor fee, which is below the 0.25% level charged by BlackRock’s IBIT and lower than most major spot Bitcoin ETFs currently on the market. Morgan Stanley said BNY and Coinbase Custody Trust Company will serve as Bitcoin custodians for the trust. The prospectus also says the initial seed creation baskets are expected to total about $1 million, with 50,000 shares created ahead of listing. This is a notable step because Morgan Stanley became the first major US bank to file for spot Bitcoin and Solana ETFs in January, marking a deeper push into crypto investment products by a traditional finance firm. Morgan Stanley also plans to offer Bitcoin, Ether, and Solana trading through E*Trade in the first half of 2026 through a partnership with Zerohash."

Alfador8

That's not true. The price of bitcoin when IBIT launched was \~$46k

ConcernedPen15

Not true for IBIT though since BTC was over 100k when it launched. I bet most IBIT holders are under water right now.

PirateHunterZoro252

1) River -they have a Bitcoin only exchange -cash generates 3% interest & converts to BTC -they have proof of reserves 2) IBIT -they use coinbase as their middleman -blackrock gave them an ultimatum of 12 to deposit their coins on-chain after there was speculation of paper Bitcoin around September 2024 -biggest asset manager, if private equity were to collapse black rock would definitely survive over the smaller private equity firms such as blue owl

AD_rumors

Just curious, if just looking for price appreciation why not BTC or IBIT in a brokerage. Seems like it's easier to cash out and more convenient. Now if you're planning to buy something using your wallet I get that.

rechtim

IBIT from blackrock has the longest track record but .25% expense ratio newly created MSBT from Morgan Stanley will have a .15% expense ratio FBTC is also available from fidelity matching Blackrocks' .25% ER

More-Ad-2831

You are correctly identifying your biggest threat (Operational Risk / Human Error), but your proposed solutions walk you directly into an even bigger threat: Systemic Counterparty Capture. If you move your BTC to Kraken or an ETF (IBIT), you are legally executing a downgrade in property rights. Under current commercial code (UCC Article 8), an ETF or exchange balance is not 'your' Bitcoin. It is a 'Security Entitlement.' You are demoting yourself to an Unsecured Creditor. If the custodian faces a liquidity crisis or a 'bail-in,' the secured creditors (derivative counterparties) have legal super-priority to sweep the pooled collateral. You get what's left. You are trading the risk of a lost seed phrase for the risk of institutional confiscation. There is a third option you are missing: You don't need an ETF; you need Collaborative Custody (like Unchained or Casa). It’s a 2-of-3 Multisig vault. You hold 2 keys, they hold 1. If you lose a key while living your nomad lifestyle, you aren't wiped out. The firm uses their 3rd key to help you recover the vault. But because they only have 1 key, they can never move, lend, or seize your Bitcoin. It solves your 'mismanagement' anxiety without surrendering your property rights to Wall Street. Don't trade atoms for paper IOUs."

MobilePenguins

I’ll get downvoted by some true crypto diehards but this is why I just use the stock market. MSTR and IBIT for example. Theres nothing to manage, no wallets to get hacked. You sacrifice self custody for well… no self custody! It’s managed by Wall Street for you. Can still buy and sell, can’t get rug pulled by the Nigerian Prince or a sketchy link. No seed phrase to lose.

BeginningMost6014

I'm very happy with IBIT on Fidelity... BTC in my Roth IRA is pretty nice...

BitcoinToothBro

IBIT. That's what I use.

Creepy-Ball-9787

Buy IBIT or BTC etf. Don't have to with crypto exchange bs. When they get regulated, then it might be a different story. A terrible experience with Binance was enough for me.

OkTrouble8723

Your MARA IV observation is spot on, 95% is brutal, eats up theta fast. IBIT at 50-52% is cleaner, but you're still paying up for that LEAPS structure. One thing worth watching: open interest concentration on IBIT and MARA options. Sometimes the smart money footprint shows up there before a big move, large OI building at specific strikes can signal where institutional hedges are positioned. I use [Coinlobster](https://coinlobster.com/prediction-whales) to track that kind of whale wallet activity and options flow data across both. Free for the core scanners

VaporFye

Just a thought if you buy $300k of IBIT it’s very easy to access margin on fidelity or Robinhood or whatever .

Stock-Courage-3879

There's rarely a perfect time to start and waiting for things to calm down usually means missing the move. Since you're used to ETFs the easiest entry point is probably a Bitcoin ETF. There are spot BTC ETFs available now that work exactly like what you already know. BlackRock's IBIT is the most popular one. If you want to hold Bitcoin, Coinbase or Kraken are good starting points. Just make sure you're not putting in more than you're okay watching drop temporarily because that happens and it's normal with BTC. Start small, learn as you go, and don't check the price every hour.

ArsenalOfCards

Only being slightly wreckless. Instead what I'd do if it was me. 2/3rds into a Roth IRA either in VOO or VTI. Then the other 1/3rd in BTC. Or if you're feeling extra spicy put that third into IBIT in your Roth IRA. Don't go all in on any single investment, make sure you diversify. At your age time is very much so on your side so diversifying into low cost index funds will give you far more upside and reduced risk than just BTC alone will.

Think-Sector-6329

yea, you're thinking about it the right way, but you my be adding too many moving parts. You BTC thesis can be right and the options trade can still disappoint because of timing, IV, and decay. Maybe keep BTC as the core position and treat IBIT LEAPS a small side bet. Feels like the cleaner move unless you're very confident on both direction and timeframe.

Opening-Berry-6041

Hey so like your whole approach to thinking about LEAPS for IBIT and considering the IV and halving cycles is honestly super next-level, have you ever thought about exploring how specific options Greeks might play into optimizing that strategy further even with the volatility?

Aggravating-Map-293

We are below the Rainbow chart. I don't know if it matters, but if you are in balls deep into IBIT things in the market are starting to feel weird.

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Post is by: Bcom_Mod and the url/text [ ](https://goo.gl/GP6ppk)is: /r/bitcoin_com/comments/1s7l84p/morgan_stanleys_bitcoin_etf_just_filed_at_014/ Buried in Amendment No. 3 of Morgan Stanley's $MSBT S-1 filing this week: the fee is 0.14%. BlackRock's IBIT, currently the largest spot Bitcoin ETF in the world with \~$54 billion in assets, charges 0.25%. Fidelity's FBTC charges 0.25%. Morgan Stanley just filed to undercut every single competitor in the market on day one. Bloomberg ETF analyst Eric Balchunas' reaction: "Semi-shock." His colleague James Seyffart followed with: "WOW." These are people who track ETF fees professionally. That reaction tells you something. The strategic logic here isn't subtle. [Morgan Stanley Wealth Management oversees roughly $8 trillion in client assets and has over 15,000 financial advisors](https://news.bitcoin.com/morgan-stanley-eyes-dominance-in-bitcoin-etfs-as-its-low-fee-undercuts-blackrocks-ibit/). If they come in as the cheapest option, none of those advisors face an awkward conversation justifying why they're using a competitor's product. It removes friction at the point of sale across an enormous distribution network: one that reaches exactly the demographic still sitting on the sidelines: older, wealthier, advisor-guided investors who wanted Bitcoin exposure but weren't going near a self-custody wallet. Strategy CEO Phong Le ran the numbers publicly: a 2% allocation across Morgan Stanley's AUM would be $160 billion. That's roughly 3x the current size of IBIT. Even a 0.5% allocation starts moving markets. Launch is expected early April according to Seyffart. Coinbase Custody and BNY Mellon are the custody and administration partners. NYSE Arca listing notice already filed. All of this happening while Fear & Greed is in single digits and BTC is 44% off ATH. Every major piece of institutional infrastructure keeps getting built in bear markets. This is now the third time that's happened in this cycle alone. BlackRock spent two years building the dominant Bitcoin ETF. Morgan Stanley filed to undercut them on fees before their first day of trading. Welcome to the fee war nobody saw coming. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Darkerjev

You aren’t there yet young padowan. There is no “other stuff” I invest all my money into bitcoin or bitcoin derivatives like MSTR, IBIT, STRC, etc. There is only investing in bitcoin. There is no second best.

AmanCMN

Morgan Stanley 0.14% BlackRock (IBIT) 0.25% For institutions, that’s huge. Fees like that directly affect long term returns.

Rydog_78

Bingo. The biggest risk for these trad-fi companies is not having Bitcoin on their Bingo card. No one wants to end up like Blockbuster. Failure to see where the puck is going to be in 10 years could mean losing out on trillions of dollars. I think this is why Vanguard the knee earlier this year and open up access to a Bitocin ETF. After the over whelming success that BlackRock’s IBIT Vanguard needed to make a change at the top level. A CEO cannot survive making a financial mistake like its former CEO had done by rejecting the option to submit an application to the government to start a Bitcoin ETF. 7 other companies filed and well you know how that turned out for all of them. Now everyone wants a piece of those sweet sweet management fees.

-3229

Morgan Stanley's late to the party, their EFT will need to be much more attractive on terms than IBIT. Additionally, Strategy is going to eat their lunch🥪 STRC is a superior product.

HedgehogGlad9505

Take IBIT's prospectus as an example. There is a section of risk disclosure, "Risk Factors Related to the Trust and the Shares", "Risk Factors Related to the Regulation of the Trust and the Shares", "Risk Factors Related to Potential Conflicts of Interest" are all extra risks you won't have by self-custody. And they explicitly point out that their employees may cheat on you and you have only limited legal right to sue them. Of course it is unlikely to happen, but the risk is there.

EcstaticCell1511

Imo ignore the BTC purists that are all BTC in cold storage or nothing. There are many more people who lost their coins via mishandling via self custody vs centralized exchange collapses. The wild west days of MT GOX are over imo. Stick with FBTC or IBIT and you'll be fine.

HedgehogGlad9505

Yes. But the point is, it can be any exchange, and you can pick one on the day you sell. You trust the exchange for 0.01 btc and for an hour or so. ETF is tied to a company, and if Blackrock fails when you are holding IBIT, your coin is gone. You can't automatically turn them into FBTC.

Wolverine1850

I wouldn't call myself a wholecoiner if I only own the equivalent of one Bitcoin in ETFs. That said, I don't think it matters too much and is up to persona preference. Yes, self custody is superior, but there are some people that should not be custodying their own BTC, sorry. Holding in a retirement account and letting Blackrock handle custody risk may be best. Before a bunch of you rage at me, are you seriously comfortable with your grandma holding one Bitcoin in self custody on a hardware wallet, exposing her to wrench attack risk? I'm much more comfortable with her holding IBIT in her Roth.

Emergency_Scheme_670

crypto wrapper investments never end well. IBIT is barely year old, we have no long term data and have no clue how it can be impacted with regulatory change and a new political climate

FairBlamer

Dude you’re in the wrong here. The entire point of OP’s post is to transparently \*ask\* whether or not holding 1 BTC worth of IBIT is the same as “owning a bitcoin”. OP was abundantly clear in their language here: \>Finally purchased the \*\*equivalent of 1 coin\*\* via ETF.

Internet_is_tough

What a random reply! What does ark have to do with Bitcoin? It's an innovation ETF investing in company stocks. IBIT has tracked bitcoin with less than 0.5% difference on the day and 0% difference on the long run.

impliedinsult

Could Morgan Stanley clients already allocate to IBIT?

blackjackn

I dont spend it. If I ever need to or it makes sense (e.g. lots of profit and I want to pay off my house), I'll send it to an exchange. But maybe once I do, the landscape will allow a lot more ability to transact directly with Bitcoin. 10% of my stack is IBIT/FBTC. I'll liquidate some of that to get myself something nice eventually and let my brokerage track the cost basis for taxes.

wkndatbernardus

No, it's only a wash sale if you sell a spot ETF, like IBIT, and then buy the same ETF right away (before 31 days has elapsed). The grey area is whether we can sell a spot ETF, like IBIT, and then buy another spot ETF, like FBTC, without waiting 31 days. Some financial pros say that strategy is not a wash sale because they are different securities, operated by different companies, and some say it is because they both track the exact same asset. Personally, I solved this problem by selling some IBIT at a loss and then purchasing MSTR with the proceeds.

cepheids

Is it wash sale if you sell BTC but buy IBIT or FBTC?

Subject-Chest-8343

To be fair though, this never happened with BTCC, the other canadian bitcoin ETF... So no idea what happened here. I thought these ''non-cash distributions'' were mostly a REIT thing. You can also straight up buy IBIT in Canada, it is listed both in US and canadian dollars. We've had BTCC and EBIT since 2021, well before IBIT came around. They also both use cold storage instead of a Coinbase account, like IBIT does. Personally that's why I hold BTCC and not IBIT. >and should not scare you to hold a bitcoin ETF like IBIT. Best way to not care about it is to hold ETFs in a non-taxable account, of course.

fortinbrass1993

Sorry, may you explain LEAPS? What’s the difference between just holding IBIT? Thanks!

LetWinnersRun

I buy Call LEAPS on IBIT in my Roth IRA.

vikingpower89

You could at least roll with IBIT and sell some CCs. The volume is much better than FBTC.

ObjectiveJackfruit35

You can do both homie. Bitcoin ETFs are excellent investment vehicles for things like a 401k with company match. Every month my company contributes 10% of my paycheck, which I then use to buy IBIT. It's free money that I'm putting into bitcoin. And because I use a Roth, the taxes are already paid for. Nothing is preventing you from buying both ETFs and bitcoin on an exchange, like I do.

ObjectiveJackfruit35

Damn that sucks dude. For anyone else outside of Canada, such as the US, this shit does not apply to you and should not scare you to hold a bitcoin ETF like IBIT. Canada has some fucked up tax laws for ETFs, holy shit.

Backrus

Learn what VaR shock is. BTC has been down only for months while everything else was flat or making ATH. It isn't dropping as much now because most have already sold it. So people now are selling things that actually had massive runs since April 2025 low. BTC didn't have one. It's still the worst-performing asset in the world on an absolute and risk-adjusted basis since IBIT options launched.

Backrus

The worst performing asset in the world on an absolute and risk-adjusted basis since IBIT options launched.

According-Picture275

Grayscale wasn't dumping bitcoin. People were exchanging grayscale (with 2% annual fees) for IBIT (with 0.25% annual fees)

Forded_Fiction24

If Coinbase has an issue as a custodian then I'm safe with my FBTC. If Fidelity has an issue as a custodian then I'm safe with IBIT. I see that as mitigating risk from not having all your eggs in one basket. I don't understand how you're saying it increases risk

Subject-Chest-8343

I don't personnally have an opinion on Coinbase (never used them myself), but seeing that many coins in the hands of one custodian is increasingly concerning, I think. For that reason alone, I'm choosing FBTC over IBIT.

Strange-Term-4168

Buy an etf. IBIT and never worry about someone getting into your wallet or sending to wrong address. If you really want to own your own keys then buy it on coinbase advanced with limit orders.

GamerRevizor

That’s a fair concern - with iShares Bitcoin Trust (IBIT) you’re accepting custodial risk from Coinbase in exchange for tax advantages. Many people hedge this by splitting between ETF exposure and self-custody to balance risk and control

BitcoinBaller420

IBIT

Forded_Fiction24

IBIT uses Coinbase for a custodian. With FBTC, Fidelity holds it themselves. So my strategy is to mitigate the custodial risk at least somewhat by buying both equally into my Roth. I also custody my own Bitcoin as well and more of it, but find the risk personally acceptable and didn't want to deny myself the huge potential benefit of holding Bitcoin ETFs within my Roth. Everyone's risk tolerance differs and some aren't tolerant of the risks associated with Bitcoin ETF, while others like myself are

goawayjoebro

reposting this from that comment section. Saylor himself having ownership of more than 5% of bitcoin is a real concern. However, many large firms (Vanguard, blackrock included) use MSTR as a part of their means of acquiring Bitcoin by proxy. Vanguard has a larger portion of MSTR stock, i think about 11%, Blackrock owns about 5% but has much larger stores of it's own BTC via the BTC ETFs. Blackrock's bitcoin ETFs by volume actually hold more Bitcoin than Saylor's company. Saylor has ~730,000 and Blackrock's total BTC ETF issuance is slightly more than that. What this signals is that there is increasing retail/big firm/tradfi adoption of Bitcoin. Strategy is actively being pried out of Saylor's hands. *Exact figures:* - BlackRock's iShares Bitcoin Trust (IBIT), its primary spot Bitcoin ETF, holds approximately 782,180 BTC as of March 16, 2026. - - MSTR holds 761,068 BTC as of today - Vanguard holds approximately 8.55% of MicroStrategy (MSTR) stock, while BlackRock holds approximately 5.8% - Blackrock AUM = ~14 trillion, Vanguard = ~12 Trillion

hippieswithhaircuts

I’m 2 years into a 5 yr hold at $24 per IBIT share. At $68k, I laddered calls at the money every month until Jan 27. You can say I’m bullish

JuxtaposeLife

Fair point on pension funds and endowments. I am speaking mainly about individuals who have a choice... people who are fully capable of taking self-custody, yet choose IBIT instead. That is what I mean by surrendering upside, and potentially protection, in exchange for convenience, aka "laxy" My suspicion is that many of those investors have not fully thought through the structural tradeoff they are making. If IBIT, or similar products, do not end up reflecting Bitcoin’s scarcity as cleanly as people assume, then the downside may not simply be underperformance. In an extreme scenario, it could mean investors are left with cash settlement or repayment at some version of original cost basis, while Bitcoin itself has repriced dramatically higher. That is the deeper risk: not merely missing upside, but discovering too late that the vehicle was never as sovereign or scarcity-aligned as the underlying asset. And if the ETF structure ever proved to be looser in practice than investors believe... especially if “held” Bitcoin across products turned out to be less cleanly segregated than advertised... then convenience could end up being extraordinarily expensive.

ReliantToker

You’re raising a valid point about the "incentive to shape narrative," but calling IBIT the "lazy path" ignores the regulatory and fiduciary reality of 2026. ​Here is the "non-manufactured" breakdown: The Fiduciary Mandate: For the 1,686 institutional owners currently holding IBIT—including pension funds and endowments—direct cold storage isn't just "hard," it’s often legally prohibited by their investment mandates. An ETF isn't the "lazy" choice; for many, it’s the only choice allowed by their board of directors. ​The Collateral Evolution: Unlike 2024, in 2026, Bitcoin is a "Tier 1" asset. Major banks like Wells Fargo and BNY Mellon now recognize IBIT shares as collateral for credit facilities. You can’t easily walk into a legacy bank and get a low-interest loan against a multisig wallet yet, but you can against an ETF. ​The MSTR Distinction: While I agree MSTR is a "monster" for adding tailwinds, it carries its own premium/discount volatility. IBIT offers pure delta exposure without the "Saylor Premium" risk, which currently sits at 1.01x mNAV (a rare reset). ​Is BlackRock making a fee? Of course. Is it "manufactured" to say that $55 billion in AUM represents a massive vote of confidence from the world's largest pools of capital? No, that’s just the math of the "Institutional Superhighway."

JuxtaposeLife

The sad reality is that a large share of the pro-IBIT, anti-MSTR narrative online often looks less like genuine analysis and more like manufactured consensus... and you see that here constantly. The reaction to even mild criticism of IBIT is often so disproportionate that it begins to feel less like rational debate and more like narrative defense. That is especially striking because, at a high level, Bitcoin cold storage and MSTR represent two distinct paths of exposure, while IBIT arguably combines some of the disadvantages of both. At best, it is the convenience option (the lazier path) but one that comes with unnecessary headwinds. It also happens to be an enormous cash cow for BlackRock, so it is not difficult to understand why there would be a strong incentive to shape the surrounding narrative. Some of this clearly comes from real people repeating a framework they have not examined very deeply. But much of the rest reads like coordinated amplification masquerading as independent market opinion. That may serve incumbents well, but it does not make the argument any more true. Strategy, notably, does not appear to require that kind of support.

FreyBentos

Saylor and IBIT have over 10% of all bitcoin locked up at this point lol.

ReliantToker

You’re 100% correct on the plumbing: BlackRock is the manager, not the "owner" in the traditional sense. However, dismissing the premise based on that technicality misses the structural shift happening in 2026. ​Here’s why the distinction matters less than the result: ​The Mandate Shift: We aren't just seeing "individual people" buying IBIT anymore. As of this month, over 1,690 institutional entities—including pension funds, endowments, and sovereign wealth advisors—are the ones driving these $763M weekly inflows. When a multi-billion dollar pension fund buys IBIT, that is Institutional Conviction moving the needle, even if they use BlackRock’s wrapper to do it. ​The "Internal" Signal: BlackRock has actually begun integrating Bitcoin exposure into its own global allocation funds (like the Strategic Income Opportunities Fund). So in many cases, BlackRock is effectively the "person" buying its own ETF to give their diversified clients exposure. ​The Absorption: Whether it’s a hedge fund or a high-net-worth individual, once that capital enters IBIT, BlackRock must buy the underlying BTC and take it off the market. With the 20 millionth coin now mined, that "Institutional" wrapper is the primary vacuum sucking up the last of the liquid supply. ​The premise isn't that BlackRock is a "HODLer"—it's that BlackRock has built the superhighway for the world's largest pools of capital to finally exit fiat and enter Bitcoin.

Awkward_Potential_

>there's little structural danger here. MSTR does not custody their own Bitcoin. In fact, they probably use the same custodian as IBIT and many other ETF's. Ummm, that's actually my biggest concern. Strategy should self custody to keep Coinbase from being too large of a custodian.

Cadenca

When you really boil it down, there's little structural danger here. MSTR does not custody their own Bitcoin. In fact, they probably use the same custodian as IBIT and many other ETF's. IE., this is a moot point. Ownership is not centralized either. Those Bitcoin belong to me and hundreds of thousands of shareholders (inb4 someone tries to point out that technically the MSTR equity does not have direct claim to their BTC yadda yadda). The market can easily tolerate MSTR being at least 10% of the market, so that's 2.1 million coins. That's like 3x what they have now. We'll cross that bridge once we get there, but this is hardly the limit.

HipOut

IBIT is a spot etf managed by blackrock so its individual people buying IBIT through blackrock, not blackrock. So your premise is off completely

coinfeeds-bot

tldr; US-traded spot Bitcoin ETFs have experienced a five-day inflow streak, bringing in over $767 million in fresh capital, with BlackRock’s iShares Bitcoin Trust (IBIT) accounting for $600 million of the total. This marks the longest daily inflow streak this year, breaking a four-month period of net outflows. The resurgence in demand coincides with Bitcoin's price recovery and suggests growing institutional interest in Bitcoin ETFs as a hedge against market instability during geopolitical tensions. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

docherino

They buy for their clients, not themselves. So when you say "i don't think blackrock are done buying" you are basically saying "i don't think retail are done buying". If i buy IBIT, blackrock then will buy Bitcoin on my behalf. If i sell IBIT, blackrock then will sell bitcoin on my behalf.

Kot-Leopold

The key takeaway isn't just that 90% didn't panic sell, but why the on-chain data confirms it. During Bitcoin's 47% drop from $126K to $66K, IBIT saw only 0.2% in redemptions—that's diamond-hand behavior from retail and advisors, not hedge funds. More importantly, exchange supply just hit its lowest level since November 2017. This means coins aren't just staying in ETFs; they're moving to self-custody en masse. You have long-term holders refusing to sell and withdrawing liquidity from exchanges simultaneously. This combination creates a supply shock setup. When demand returns, there's significantly less sell-side liquidity available. BlackRock doubling down with their staked Ether ETF (ETHB) during this drawdown shows their conviction isn't just PR—it's strategic positioning for the next leg up.

ThreeTonChonker

Obviously it’s not news if you’re not one of the whales at Blackrock though. I’m sure this sub would consider it breaking though if you sell the pocket change from working at Wendy’s which you invested in IBIT though.

HSuke

> That’s because if you’re investing through Blackrock you likely have a high net worth. Wut? You can buy IBIT if you have $40 (or even less with fractional shares). Retail owns 40% of the largest ETFs.

LuckyWinds

> That’s because if you’re investing through Blackrock you likely have a high net worth. > > Why would you make this claim? IBIT is available with no deposit requirements. It's not like certain investments where you need 250k, 500k, 1m, etc. minimum deposit. > Anyone who thinks it’s not still early is naive. I agree.

btcprint

I'd wager that majority of IBIT investors are not high net worth - it's literally just an ETF available on most all trading platforms -- it's not a HNW private investment fund

coinfeeds-bot

tldr; BlackRock's Head of Digital Assets, Robert Mitchnick, stated that 90% of its Bitcoin ETF (IBIT) holders did not sell during a recent 47% market drawdown, showing strong conviction among retail investors and financial advisors. On-chain data supports this, with Bitcoin supply on exchanges at its lowest since 2017, indicating long-term holders are moving coins to storage. BlackRock also launched a staked Ether ETF, signaling its growing confidence in the crypto market beyond Bitcoin. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

BaldBear_13

the fact that it surived several cycles of boom&bust. Once it bottoms out (mid-end of 2026), I will get ~5% of my savings into IBIT (I still do not believe the exchanges, or trust them with my bank account or cell phone).

Shichroron

What the rest is doing? Isn’t buying IBIT is by definition accumulating?

ClearSnakewood

By the time some of these “conspiracies” and theories become known facts it will be too late to fix the money and revolutionize. There’s a lot of sneaky attacks and lobbying going in as we speak and most Bitcoin plebs aren’t asleep at the wheel. The real cypherpunk ethos isn’t for everyone here… And if you wish to deal with facts that come with a government printed manual then you won’t make it here, not at this stage at least… Or you can just go and gamble for a quick fiat cuckbuck on IBIT options, or whatever Wallstreet toys there are today.

Putrid_Pollution3455

If you don’t know jack about shit, pick a chosen asset allocation to put towards Bitcoin. Buy a certain amount of IBIT every payday. That’s blackrocks spot price etf, you can buy it from any brokerage. The end. That’s the easiest way. If you want to actually make transactions with it, then you get a wallet and buy some.

BitcoinToothBro

I only buy and sell in IBIT.

vikingpower89

Buy a LEAPS call on IBIT for as far out as I could.

biophysicsguy

Not necessarily. Robinhood allows the purchase of spot BTC as well as Bitcoin ETFs that go by tickers such as IBIT, FBTC, GBTC, ARKB, etc.

uncapchad

If you are buying Bitcoin on a cryptocurrency exchange, there are no wash rules. Selling a spot Bitcoin ETF at a loss and repurchasing it (or another spot Bitcoin ETF) within 30 days does not trigger the wash sale rule, unlike with traditional securities. (IBIT, FBTC for e.g.) Important caveat: This treatment applies only to spot Bitcoin ETFs structured as grantor trusts. Bitcoin futures ETFs (like BITO), which are structured as Regulated Investment Companies (RICs), **are** subject to wash sale rules because they are classified as securities.

Thankyouclouds

Yes this is exactly why. I know it sounds regarded but some of us have partners that are absolutely terrified of this crash and are applying unnecessary stress to us and pressure to sell. You don’t get any of that when BTC is 120k. And no, not gonna leave my partner or sell but I know BTC will go up again so this stress is just SO unnecessary. I also understand the concern because my retirement & Roth account (all IBIT) is sliced in half while partner’s half is sitting pretty in SPY.

Vegetable_Squash_504

is there no IBIT subreddit ?

AutoModerator

Post is by: absurdcriminality and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1rp2h67/the_coinbase_premium_index_has_flipped_back_above/ I ran into this fact while reading a Bitmex [blog post](https://www.bitmex.com/blog/3-trades-5-March) about trading, and it seemed worth sharing. That’s also not the only positive indicator. Spot ETF flows are in the green as well. >Spot ETF flows have rebounded to more than $1 billion over the past week. BlackRock’s IBIT leads this with daily inflows above $275 million (Feb 24–26), reversing prior cumulative outflows. Even though the charts don’t look very good, indicators are slowly starting to signal a possible reversal IMO. What do you guys think? *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

LetWinnersRun

I do 20%, but I buy Call LEAPS on IBIT.