BlackRock’s iShares Bitcoin Trust exchange-traded fund (ETF) has achieved an impressive feat, ranking within the top 0.16% of all ETF products issued in the United States.
As of Feb. 5, the ETF has attracted over $3.19 billion in inflows, according to data from senior Bloomberg ETF analyst Eric Balchunas. This places it behind only broad index funds tracking the S&P 500 and Vanguard’s Total Stock Market ETF.
When compared against the 3,109 ETFs currently trading in the United States, BlackRock’s ETF performance stands out significantly. Data from YCharts indicates that it ranks in the top 0.16% of all ETFs.
Balchunas also calculated a slightly different figure of 0.02%, likely measuring BlackRock’s ETF against an estimated 10,000 ETFs worldwide.
Fidelity’s Bitcoin Fund also emerges as a top performer, with $2.51 billion in inflows, securing the eighth position among U.S.-based ETF products. Both BlackRock and Fidelity’s Bitcoin ETFs have continued to ascend the rankings, standing at eighth and tenth positions respectively at the end of January.
It’s important to note that while the total flows of other U.S. ETFs are counted from Jan. 1, 2024, spot Bitcoin ETF products were only approved for trading on Jan. 11. This means that Bitcoin ETFs are at a seven-trading-day handicap compared to other products.
BitMEX Research data illustrates a widening gap between BlackRock and Fidelity’s spot Bitcoin ETFs against other competitors. ARK 21Shares and Bitwise follow, with accumulated flows of $683.7 million and $663.6 million respectively, according to Feb. 5 data.
In contrast, Grayscale’s converted spot Bitcoin ETF, the Grayscale Bitcoin Trust (GBTC), recorded its sixth successive day of shrinking outflows at $73 million on Feb. 6. This marks a significant decline from its worst day of outflows on Jan. 22, which saw $640 million exit the newly converted ETF.
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