BLCK bid-ask spread and liquidity

Corgi Crypto Infrastructure ETF
ThemesCorgi$380,484 net assets0.35% fee
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As of Oct 22, 2026, BLCK closed +0.15% from its NAV, and on 95% of the 15 days to then it was within ±0.22%.

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Ask IQ about BLCK bid-ask spread and liquidity

Answers cite the figures on this page.

OverviewHoldingsTradingFlowsCompare

IQ Liquidity Score

0 of 6 measured · Oct 22, 2026
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Not scored
0 · Hard to trade100 · Trades like a giant

The IQ Liquidity Score: a fixed 0 to 100 scale of trading conditions, the same anchors for every fund; 100 is the easiest to trade. It measures how cheaply and reliably the fund trades, not whether to own it. Method →

Cost to trade
Not measured · the issuer's 30-day median spread is not read for this fund
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Capacity
Holdings can absorb up to $40m a day; part of the book has no volume figure
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Price fidelity
Not measured · 15 days of closing premium are held, under the 20 needed
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Primary market
Not measured · it first traded on 2026-05-06, and no N-CEN ETF row for series S000102696 is in the quarters read (2024q4 to 2026q3)
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Bad-day behaviour
Not measured · 0 of the 10 worst days and 15 other days are held, under the 5 and 60 needed
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Depth
Not measured · needs trade and quote data (Phase 2)
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Premium or discount to value

Daily, 15 days to Oct 22, 2026 · the ±1% band marked
BLCK premium or discount to NAV, 15 days+1%0−1%Sep 11, 2026Oct 22, 2026
Latest close, Oct 22
+0.15%
95% of days within
±0.22%
Days more than 1% from NAV
0 of 15
Widest
+0.22%, Oct 8, 2026

Close against the NAV its issuer struck the same day, from the issuer. Source: ETFIQ.

Capacity

What the holdings can absorb a day, at 10% of each one’s volume
Holdings can absorb, at most
$40m

BLCK’s holdings can absorb up to $40m a day, measured on its own holdings, as of Oct 22, 2026. Part of its book has no volume figure, so this is an upper bound.

The holding that sets the limit: Gemini Space Station Inc (GEMI), 1.71% of the fund, $7m a day traded, the median of 20 days to Oct 22, 2026. Capacity is the least of the holding-level ratios over the holdings making up 95% of the weight.

How to trade BLCK

To buy or to sell, up to $100,000
When
ETF spreads are usually widest in the first minutes after the open and the last before the close.
Size
Part of its book has no volume figure, so the room for a large order is an upper bound.
Watch
The premium. On 95% of days it is within ±0.22%; beyond that a buyer pays more, and a seller gets less, than the holdings are worth.
Phase 2 · drawn now, filled when trade data arrives
Spread through the dayComing with trade data

Median spread by half hour, 30 days.

Buyers against sellersComing with trade data

Share of volume at the ask against at the bid.

Retail flow, estimatedComing with trade data

Sub-penny prints as a share of volume.

Large tradesComing with trade data

Prints above $500k, count and share.

Closing auctionComing with trade data

Share of the day’s volume at the close.

Questions people ask

Does BLCK trade at a premium or discount to NAV?

It closed +0.15% from its NAV on Oct 22, 2026. On 95% of the 15 days to then it was within ±0.22%, and it closed more than 1% from NAV on 0 of them.

Who is the LMM for BLCK?

BLCK’s lead market maker (LMM) on Cboe BZX is GTS Securities LLC. Lead market maker per Cboe BZX, as of Oct 23, 2026.
Sources and dates
Premium to NAVETFIQ, close against the issuer’s NAV · Sep 11, 2026 to Oct 22, 2026
CapacityETFIQ, each holding’s 20-day median dollar volume · to Oct 22, 2026
Where to next
ETF trading costs and liquidity→Cost-to-trade checker→Why low volume does not mean illiquidguide →Limit orders vs market orders for ETFsguide →How the IQ Liquidity Score is builtmethod →BLCK fund page→
Cite this pageCitation, APA and Markdown

ETFIQ, BLCK trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/blck/trading/

Open data →

The score measures trading conditions, not the fund. ETFIQ makes no recommendations.