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Liquidity and Risk — Perception vs Reality for Gold and Bitcoin

Gold liquidity — $145.5bn/day

  • 200,000 contracts/day each 100 oz = $40bn [source]
  • LBMA data $57.8bn/day [source]
  • World Gold Council estimates $145.5bn as they add all the other futures and physical metal trading [source]

Silver liquidity — $14.5bn/day

  • 80,000 contracts/day each 5,000 oz of XAG = $9.2bn [source]
  • ETF SLV trades $0.6bn/day and has a 66% share of all XAG ETFs, so approx. $1bn/day in total — will not include as double counting as ETFs will engage with either CME or LBMA or both. [source]
  • LBMA data $5.4bn/day [source]

Bitcoin liquidity — $40.3bn/day

  • 11,000 contracts/day each 5 BTC = $1.65bn/day [source]
  • On-chain $40bn per week so $5.7bn per day [source]
  • ETFs included in on-chain data or futures for BITO
  • Then crypto futures are around $33bn/day (some double counting with on-chain data) [source]
Source: ByteTree
Source: Bloomberg
Source: Bloomberg
Source: Bloomberg

CONCLUSION

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ByteTree.com

Applied data for digital asset investors. ByteTree provides real-time data, fundamentals, technical and deep blockchain market analysis for Bitcoin, and more.