According to U.Today, BlackRock's iShares Bitcoin Trust (IBIT) has achieved a significant milestone in the spot Bitcoin ETF market, securing approximately $20 million in inflows this year. This accomplishment has positioned IBIT as the leading ETF among the new launches in 2024. Nate Geraci, president of ETF Store, highlighted IBIT's growing popularity on social media platform X, noting that out of 375 new ETF launches in 2024, the next largest non-spot Bitcoin ETF garnered $1.3 billion in inflows. The iShares Bitcoin ETF has taken in approximately $20.5 billion this year, with the top four spot Bitcoin ETFs being IBIT, Fidelity’s FBTC, Ark Invest’s ARKB, and Bitwise’s BITB. The Global X Russell 2000 ETF placed fifth, while BlackRock's Ethereum ETF, ETHA, ranked sixth.

Bloomberg Senior ETF Analyst Eric Balchunas analyzed IBIT’s prominence among its competitors, revealing that the ETF ended with 414 reported holders in May. In comparison, BITB has around 100 reported holders, FBTC slightly under 250, and ARKB less than 100. This data indicates a strong investor interest in Bitcoin and Ethereum through ETFs, with more institutions beginning to embrace cryptocurrency as an alternative investment. For instance, banking giant Goldman Sachs disclosed it holds $419 million in Bitcoin ETFs. In a previous report by U.Today, BlackRock’s CEO Larry Fink praised Bitcoin as a diversified portfolio asset, comparing the cryptocurrency to gold.

Bitcoin (BTC), the leading cryptocurrency, has seen a notable increase from its previous lows, reaching the $60,000 price range. In the past 24 hours, BTC has risen by 4.2% to trade at $61,245, although the trading volume declined by 12.6% to $28 billion, indicating subdued investor interest. Despite a tumultuous August, current price trends suggest a potentially more bullish rebound is underway.