BlackRock’s iShares Bitcoin Trust (IBIT) Fund Achieves Major Success in the US

Just 17 days after launch, BlackRock’s iShares Bitcoin Trust (IBIT) fund has become one of the top exchange-traded funds of 2024, ranking high among spot Bitcoin ETFs with $3.19 billion in flows.

BlackRock’s iShares Bitcoin Trust (IBIT) fund has seen great success in the United States. Although it missed the first seven trading days while awaiting SEC approval, it became one of the top five exchange-traded funds of 2024 just 17 days after launch, according to Bloomberg Intelligence data.

BlackRock Leads After S&P 500 and Vanguard

IBIT entered the top 0.16% of all ETF products issued in the USA, ranking third among spot Bitcoin ETFs with a flow of $3.19 billion, only after the S&P 500 and Vanguard’s Total Stock Market ETF. According to YCharts, BlackRock’s ETF is in the top 0.16% tier among 3,109 ETFs traded in the USA. When compared to 10,000 ETFs worldwide, it achieved a success rate of 0.02%.

Fidelity’s Bitcoin Fund also displayed remarkable performance, ranking eighth among US-based ETF products with $2.51 billion. BlackRock and Fidelity Bitcoin ETFs continued their ascent by ranking eighth and tenth, respectively, at the end of January. On the other hand, ARK 21Shares and Bitwise are in third and fourth places among spot Bitcoin ETFs with flows of $683.7 million and $663.6 million, respectively.

Net Flows into Bitcoin ETFs Reach $1.5 Trillion;

Issuers like Invesco, Galaxy, and Valkyrie recorded total flows of over $100 million each, while WisdomTree was at the bottom with just $11.1 million. The net flow into spot Bitcoin ETFs has reached a total of $1.5 trillion since the products were launched.

Source: Cointelegraph

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