BTCO Beats BTCW in Volume, but Similar Returns Raise Questions

The debate over liquidity and volume in Bitcoin ETFs has been ongoing for some time. In this article, we'll be comparing two popular funds: WisdomTree's BTCW and Invesco's BTCO.

When it comes to trading volume, BTCO leads the way with a 3-month average of $4.94M compared to BTCW's $1.59M. However, both funds have seen significant returns in 2024, with BTCO producing a 93.87% return and BTCW producing a 92.79% return.

But does volume really matter? According to the SEC-approved Cboe Options Exchange rule amendment for options on BTCW, large block traders should consider volume when making investment decisions. Additionally, BTCO leads in price discovery, with its Information Leadership Share remaining higher than the bitcoin spot price according to analyzed market data.