BlackRock's Bitcoin ETF Inflows Rise to Fifth-Highest in 2024

Despite the fact that it has only been available for 17 days, the BlackRock iShares Bitcoin Trust (IBIT) has already established itself as one of the top five exchange-traded funds (ETFs) of 2024 based on the amount of money that has been invested in it, as reported by Bloomberg Intelligence.

Only the enormous long-standing index exchange-traded funds (ETFs) offered by iShares and Vanguard, which provide exposure to either the S&P 500 or the whole stock market, have been able to surpass the $3.2 billion in year-to-date inflows that IBIT has received till now. 

In the top rank with $13 billion in inflows so far this year is the iShares Core S&P 500 ETF (IVV), which has a staggering $428 billion in assets-under-management (AUM). This ETF has been the most successful investment this year

The Vanguard 500 Index Fund ETF (VOO), which has almost $398 billion in assets under management (AUM), comes in at number two with $11.1 billion in monthly inflows.

Another ETF asset gatherer that has earned a spot in the top 10 this year is the Wise Origin Bitcoin Fund (FBTC) offered by Fidelity. 

With $2.7 billion in inflows, it is ranked eighth on the list of investment vehicles that collect assets.

Despite the fact that these are remarkable accomplishments for new funds, the total investment into all of the new spot bitcoin ETFs has slowed down in the past few days.

IBIT, which is managed by BlackRock, and FBTC, which is managed by Fidelity, are the only two funds that have consistently seen positive flows ever since they were introduced to the market.

Keep an eye out for more updates!