What will happen to the bStocks volume on September 1, when the maker’s zero commission is switched off?
CoinDesk Data report for July, published on August 1: trading volume of tokenized stocks and ETFs — $11.3B, +288% month over month. bStocks accounted for $9.41B, or 83.3% of the market.
Out of those, one token, $QQQB (Invesco QQQ Trust, listed June 30 at 13:30 UTC), generated $9.27B — about 82% of the market. I subtracted: for the rest of the bStocks lineup, about $140M remains for July. The estimate is rough—this is the difference between rounded numbers—but the scale is about $4.5M per day for everything else.
Two dates explain it better than demand. QQQB trades with a zero maker’s fee until August 31. Since July 23, Binance has been calculating volume for stocks and bStocks with a 3x multiplier for promotion across VIP tiers.
Underlying asset: in July, QQQ fell by 6.6% and at one point was 10.2% below the June 30 close, while the Nasdaq Composite was down 3.2% and the S&P 500 was down 0.1%. Volume rose not because of price.
For me, that implies a condition. The other ETF in the lineup, $EWYB (iShares MSCI South Korea), is already sitting in that remaining pool. While the fee is zero, I’m trading with limit orders, and after August 31 I’ll check the spread to the order—not after.
What will happen to bStocks volume after August 31?
#bstockscis @BinanceCIS
CoinDesk Data report for July, published on August 1: trading volume of tokenized stocks and ETFs — $11.3B, +288% month over month. bStocks accounted for $9.41B, or 83.3% of the market.
Out of those, one token, $QQQB (Invesco QQQ Trust, listed June 30 at 13:30 UTC), generated $9.27B — about 82% of the market. I subtracted: for the rest of the bStocks lineup, about $140M remains for July. The estimate is rough—this is the difference between rounded numbers—but the scale is about $4.5M per day for everything else.
Two dates explain it better than demand. QQQB trades with a zero maker’s fee until August 31. Since July 23, Binance has been calculating volume for stocks and bStocks with a 3x multiplier for promotion across VIP tiers.
Underlying asset: in July, QQQ fell by 6.6% and at one point was 10.2% below the June 30 close, while the Nasdaq Composite was down 3.2% and the S&P 500 was down 0.1%. Volume rose not because of price.
For me, that implies a condition. The other ETF in the lineup, $EWYB (iShares MSCI South Korea), is already sitting in that remaining pool. While the fee is zero, I’m trading with limit orders, and after August 31 I’ll check the spread to the order—not after.
What will happen to bStocks volume after August 31?
#bstockscis @BinanceCIS
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