In 2024, the BlackRock iShares Bitcoin Trust (IBIT) has become one of the top five exchange-traded funds (ETFs) in terms of inflows, according to Bloomberg Intelligence data.
With over $3.19 billion in inflows, the IBIT has outperformed many established funds, ranking just below broad index funds like those tracking the S&P 500 and the Vanguard Total Stock Market ETF.
Despite a delayed NASDAQ debut awaiting SEC approval, the BlackRock ETF has quickly risen to prominence, reaching the top 0.16% of ETFs trading in the United States.
The Fidelity Bitcoin Fund has also shown strong performance, attracting $2.51 billion in inflows and securing the eighth position among U.S.-based ETF products.
Additionally, both the BlackRock and Fidelity Bitcoin ETFs have seen recent improvements in their rankings. Grayscale’s spot Bitcoin ETF has experienced decreasing outflows, while other Bitcoin ETF issuers have consistently surpassed outflows from Grayscale’s GBTC.
The launch of spot Bitcoin ETFs generated significant enthusiasm, particularly in the first week following the debut, with over 100,000 BTC under management, valued at approximately US$4 billion.
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