BITCOIN!
Just 17 days after its launch, the BlackRock iShares Bitcoin Trust (IBIT) has quickly risen to become one of the top five exchange-traded funds (ETFs) of 2024 in terms of inflows, as per Bloomberg Intelligence data. Surpassing $3.2 billion in inflows so far this year, IBIT trails only established giants like iShares and Vanguard, whose S&P 500 and total stock market ETFs hold the top spots. The iShares Core S&P 500 ETF (IVV) leads the pack with $13 billion in inflows and a massive $428 billion in assets under management (AUM), followed by the Vanguard 500 Index Fund ETF (VOO) with $11.1 billion in inflows and nearly $398 billion in AUM.
Additionally, Fidelity's Wise Origin Bitcoin Fund (FBTC) has secured a spot in the top 10 ETF asset gatherers of the year, attracting $2.7 billion in inflows and ranking eighth on the list. Despite these notable achievements for new funds, the overall investment into all new spot bitcoin ETFs has slowed recently. However, both BlackRock’s IBIT and Fidelity’s FBTC stand out as the only two funds maintaining positive flows consistently since their market debut.