Bitcoin ETFs Blaze a Trail: BlackRock's IBIT Ranks Among Top 2024 Inflows

Just 17 days post-launch, BlackRock's iShares Bitcoin Trust (IBIT) has surged to become one of the top five exchange-traded funds (ETFs) of 2024 in terms of inflows, with Bloomberg Intelligence data revealing inflows of $3.2 billion year-to-date. IBIT's rapid ascent places it behind only longstanding giants like iShares and Vanguard, whose S&P 500 and total stock market index ETFs lead the pack. The iShares Core S&P 500 ETF (IVV) tops the list with $13 billion in inflows, while the Vanguard 500 Index Fund ETF (VOO) follows closely with $11.1 billion. Additionally, Fidelity's Wise Origin Bitcoin Fund (FBTC) secures a spot in the top 10 ETF asset gatherers with $2.7 billion in inflows, ranking eighth on the list. Despite a slowdown in overall investment into new spot bitcoin ETFs, BlackRock's IBIT and Fidelity's FBTC maintain positive flows since their market debut.