Balchunas also reported that the Fidelity Wise Origin bitcoin fund (FBTC) accounted for 56% of Fidelity's inflows this year. Interestingly, IBIT and FBTC have been the most successful spot BTC Etf, recording total inflows of $16.6 billion and $88.9 billion since launch.
BlackRock's IBIT also recently overtook Grayscale's #StartInvestingInCrypto Trust (GBTC) to become the largest spot bitcoin #ETF . GBTC by Grayscale was the largest bitcoin-ETF at the time these funds were launched, as it initially operated as a closed-end fund and was later converted into a spot ETF.
But since then, GBTC Grasyacle has seen significant outflows, allowing #BlackRock to overtake it as the largest bitcoin-ETF. According to data from analytics platform Arkham Intelligence, GBTC Greyscale currently holds 287 #BTC , while BlackRock holds nearly 290 BTC.
However, despite the impressive gains made by BlackRock and Fidelity, these management companies have not recorded the largest capital inflows since the beginning of the year. Balchunas shared a chart showing that Vanguard, which does not offer a bitcoin ETF, leads all ETF issuers in inflows, with inflows of £1.028 billion YTD (year-to-date).
Blackrock ranks second with $6.5. 1 billion in inflows this year. Invesco, another issuer of the Spot BTC ETF, has 34.7 YTD, the 3rd largest influx of funds. However, the Invesco Spot Bitcoin ETF accounted for only 0.95 of those flows. Since the beginning of the year, total net fund inflows have reached 317.3 million yen.
With the bull market still in full swing, these spot bitcoin-ETF issuers are expected to record higher net inflows as this market cycle progresses. This means that BlackRock and Invesco could give Vanguard a head start and possibly outperform the asset management company.
Read also: Ripple CEO harshly criticized Dogecoin, what's the problem?
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