BlockBeats News, September 1st, Bloomberg Senior ETF Analyst Eric Balchunas wrote that since its inception, the Bitwise Bitcoin ETF Trust (IBIT) has outperformed the S&P 500 ETF (VOO), although the difference between the two is not significant. Balchunas stated that considering the recent overall market sentiment and narrative shift towards Bitcoin, this result is still quite surprising.

Balchunas also pointed out that the process through which IBIT achieved this performance was much more volatile than VOO, with its price action resembling a "rollercoaster," while VOO followed a relatively stable upward trajectory.