🔥🔥🔥 #BitcoinETFs make 26% of #BlackRock 's 2024 inflows, 56% of Fidelity’s
Despite the impressive flows into BlackRock’s IBIT and Fidelity’s FBTC Bitcoin exchange-traded funds (ETFs), they still trail behind Vanguard, the leading ETF asset manager in total flows.
Year-to-date, BlackRock and Fidelity's Bitcoin ETFs have accounted for a significant portion of their total ETF inflows, making up 26% and 56% respectively, according to Bloomberg ETF analyst Eric Balchunas, citing Bloomberg Intelligence data.
Since their launch nearly five months ago, BlackRock’s iShares Bitcoin Trust (#IBIT ) and Fidelity's Wise Origin Bitcoin Fund (FBTC) have attracted $16.6 billion and $8.9 billion in inflows, according to Farside Investor data. However, Vanguard, despite not offering any Bitcoin ETFs, leads with $102.8 billion in total ETF inflows so far in 2024, surpassing BlackRock at $65.1 billion.
BlackRock currently lists 429 ETFs with a total of $2.8 trillion in assets under management, according to Stock Analysis data. Fidelity, in contrast, only lists 70 ETFs, totaling $74 billion in AUM.
Invesco has recorded $34.7 billion in ETF flows this year, with only 0.9% coming from its Bitcoin ETF, which has attracted $317.3 million in total inflows for the first five months of the year.
On May 28, BlackRock's IBIT became the world's largest spot Bitcoin ETF, surpassing Grayscale's GBTC. IBIT now holds over 291,567 BTC valued at $20 billion, while GBTC's holdings have decreased to 285,139 BTC, worth about $19.6 billion.
Bitcoin ETF flows have somewhat stabilized recently, with several ETF issuers experiencing days of zero inflows and outflows in recent weeks. For instance, the Franklin Bitcoin ETF (EZBC) hasn’t had any inflows or outflows since May 16, according to Farside Investors.
Bitcoin investment products, excluding Grayscale, are currently witnessing an average of $141.7 million in inflows each trading day, primarily driven by IBIT, FBTC, and to a lesser extent, the ARK 21Shares Bitcoin ETF (ARKB).
Source - cointelegraph.com
