BlackRock’s iShares Bitcoin Trust (IBIT) trading at a 0.8% premium to its net asset value (NAV) could reflect fair value or hint at manipulation, depending on context. Premiums in ETFs often arise from high demand, limited share creation, or market inefficiencies, not necessarily foul play. IBIT’s massive liquidity ($50B+ AUM) and tight regulation suggest the premium aligns with strong investor appetite, especially amid recent institutional adoption (e.g., hedge funds, sovereign wealth funds). However, critics might argue BlackRock’s influence—holding 567,000+ BTC—could enable subtle supply control or sentiment sway via OTC trades or futures. No hard evidence supports manipulation claims, and direct price suppression is illegal. Given Bitcoin’s volatility and ETF mechanics, a 0.8% premium seems plausible as market-driven, though skepticism about Wall Street’s role persists. Data’s inconclusive—judge for yourself.
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