Recent findings from Farside Investors reveal that BlackRock’s spot Bitcoin exchange-traded fund (ETF) has achieved outstanding success in 2024, amassing over $37 billion in net inflows and leaving its rivals far behind.
Competitive Landscape
The iShares Bitcoin Trust (IBIT) has outstripped its closest competitor, the Fidelity Wise Origin Bitcoin Fund (FBTC), which raked in close to $12 billion this year, as highlighted in Farside’s update on December 31.
BlackRock’s dominance extends beyond Bitcoin as it also led the Ether ETF sector with its iShares Ethereum Trust (ETHA), which attracted $3.5 billion in net inflows in 2024.
Following behind was Fidelity’s Ethereum Fund (FETH) with $1.5 billion in net inflows.
Market Trends
Overall, Bitcoin-related ETFs in the United States have seen a staggering total of over $35 billion in net inflows this year, averaging around $144 million per trading day.
Farside’s analysis also revealed that this impressive figure includes more than $20 billion in net outflows from the Grayscale Bitcoin Trust (GBTC).
After navigating a maze of regulatory hurdles, Bitcoin ETFs finally secured approval for U.S. listings in January.
By November 21, these ETFs collectively surpassed the $100 billion mark in net assets, according to Bloomberg Intelligence.
Future Outlook
In 2024, Bitcoin has clearly claimed the spotlight in the ETF arena, featuring in six of the ten most successful ETF launches.
Out of roughly 400 new ETFs introduced this year, the four that led the pack in inflows were all spot Bitcoin ETFs.
This year, Bitcoin has undeniably made its mark, showcasing the growing interest and investment in the cryptocurrency market.
Source: Cointelegraph
