BlackRock and Fidelity, two major investment firms, have seen a significant portion of their total ETF inflows this year come from their Bitcoin exchange-traded funds (ETFs). According to Bloomberg ETF analyst Eric Balchunas, BlackRock’s Bitcoin ETFs account for 26% of their year-to-date inflows, while Fidelity’s Bitcoin ETFs make up 56% of their inflows. Since their launch five months ago, BlackRock’s iShares Bitcoin Trust (IBIT) has received $16.6 billion in inflows, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) has received $8.9 billion, according to Farside Investor data.
In comparison, Vanguard, which does not offer any Bitcoin ETFs, has surpassed both BlackRock and Fidelity with $102.8 billion in total ETF inflows in 2024. BlackRock currently has 429 ETFs with $2.8 trillion in assets under management, while Fidelity has 70 ETFs totaling $74 billion in AUM, according to Stock Analysis data.
Meanwhile, Invesco has recorded $34.7 billion in ETF flows this year, but only 0.9% of that comes from its Bitcoin ETF, which has received $317.3 million in inflows for the first five months of the year.
BlackRock’s IBIT recently became the world’s largest spot Bitcoin ETF, surpassing the Grayscale Bitcoin Trust (GBTC) on May 28. IBIT now holds 291,567 BTC, worth over $20 billion at current prices, according to the Apollo Bitcoin Tracker. Grayscale, on the other hand, has seen significant outflows and now holds 285,139 BTC, worth around $19.6 billion.
In terms of inflows, Bitcoin ETFs have seen a leveling out in recent weeks, with many issuers recording days of zero inflows and outflows. For example, the Franklin Bitcoin ETF (EZBC) has had no inflows or outflows since May 16, according to Farside Investors. However, overall Bitcoin investment products, including IBIT, FBTC, and the ARK 21Shares Bitcoin ETF (ARKB), still see an average of $141.7 million in inflows each trading day.
It is worth noting that the information provided in this article is accurate as of the time of writing.