On September 18, iShares Bitcoin Trust rose 3.27% in regular trading, trading at $44.68/share, with turnover of $4.19 billion.

The rally was fueled by a fresh JPMorgan research report arguing that Bitcoin currently offers greater upside potential than gold, driven by structural market mechanics rather than mere crypto enthusiasm. Analyst Nikolaos Panigirtzoglou's team highlighted two key factors: Bitcoin ETF inflows have only recovered roughly 50% of prior outflows compared to gold ETFs' full recovery, and elevated short interest in BlackRock's iShares Bitcoin Trust near yearly highs sets the stage for a potential short squeeze. The put-to-call open interest ratio on Bitcoin ETFs also remains elevated versus gold ETFs, creating asymmetric upside if sentiment shifts.

The broader macro backdrop continues to support the so-called debasement trade. Following the Fed's late-July meeting, investors have increasingly favored supply-constrained assets amid concerns over inflation, rising public debt, and dollar depreciation. Separately, BlackRock has accumulated over $3.1 billion in BTC and ETH purchases across eight consecutive trading days, reinforcing sustained institutional demand.

The iShares Bitcoin Trust seeks to reflect generally the performance of the price of bitcoin.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)