Just 17 days following its launch, the BlackRock iShares Bitcoin Trust (IBIT) has surged into the ranks of the top five exchange-traded funds (ETFs) of 2024 based on inflows, as per data from Bloomberg Intelligence.
The IBIT, with an impressive $3.2 billion in year-to-date inflows, has swiftly climbed the ladder to join the elite league of ETFs. It finds itself in esteemed company, with only a handful of colossal index ETFs from iShares and Vanguard managing to surpass its inflow figures. Topping the list is the iShares Core S&P 500 ETF (IVV), boasting a staggering $13 billion in inflows in 2024. IVV commands an awe-inspiring $428 billion in assets under management (AUM), securing its position as the dominant player in the ETF landscape. Following closely behind is the Vanguard 500 Index Fund ETF (VOO) in second place, with $11.1 billion in inflows and nearly $398 billion in AUM.
Additionally, Fidelity’s Wise Origin Bitcoin Fund (FBTC) has made its mark in the top 10 ETF asset gatherers of the year, clinching the eighth position with $2.7 billion in inflows.
While the accomplishments of these new funds are noteworthy, the overall investment into all new spot Bitcoin ETFs has witnessed a recent slowdown. Nevertheless, BlackRock’s IBIT and Fidelity’s FBTC stand out as the sole two funds to consistently experience positive flows since entering the market, underscoring investor confidence in their offerings amidst market fluctuations.
