Only 17 days after its launch, the BlackRock iShares Bitcoin Trust (IBIT) has become one of the top five exchange-traded funds (ETFs) of 2024 based on inflows, according to data from Bloomberg Intelligence.
The only funds that have topped IBIT’s $3.2 billion of year-to-date inflows are mammoth longstanding index ETFs from iShares and Vanguard that offer exposure to the S&P 500 or the total stock market. In the number one spot with $13 billion in inflows thus far this year is the iShares Core S&P 500 ETF (IVV), which has a whopping $428 billion in assets-under-management (AUM). Number two with $11.1 billion in inflows is the Vanguard 500 Index Fund ETF (VOO), which has nearly $398 billion in AUM.
Also earning a spot in the top 10 of ETF asset gatherers this year is Fidelity’s Wise Origin Bitcoin Fund (FBTC), whose $2.7 billion of inflows places it eighth on the list.
While those are impressive achievements for new funds, overall investment into all of the new spot bitcoin ETFs has slowed in recent days. BlackRock’s IBIT and Fidelity’s FBTC, however, remain the only two funds that have continuously seen positive flows since going on the market.
Edited by Stephen Alpher.
Source: www.coindesk.com
