Only 17 days post-launch, the BlackRock iShares Bitcoin Trust (IBIT) has swiftly ascended to become one of the top five exchange-traded funds (ETFs) in 2024, based on inflows, as per data from Bloomberg Intelligence.
Only a few funds have surpassed IBIT’s $3.2 billion year-to-date inflows, primarily comprising long-standing index ETFs from iShares and Vanguard offering exposure to the S&P 500 or the total stock market. Leading the pack with $13 billion in inflows this year is the iShares Core S&P 500 ETF (IVV), boasting a colossal $428 billion in assets-under-management (AUM). Following closely is the Vanguard 500 Index Fund ETF (VOO) in the second position with $11.1 billion in inflows and nearly $398 billion in AUM.
Also making it into the top 10 ETF asset gatherers of the year is Fidelity’s Wise Origin Bitcoin Fund (FBTC), securing the eighth spot with $2.7 billion in inflows. While these are notable achievements for newly launched funds, overall investment in all new spot bitcoin ETFs has tapered off in recent days. Nonetheless, BlackRock’s IBIT and Fidelity’s FBTC stand out as the only two funds maintaining consistent positive flows since their market debut.