BlackRock’s iShares Bitcoin Trust has achieved significant success in 2024, surpassing its competition by amassing over $37 billion in net inflows since its January debut, according to Farside Investors. This figure positions BlackRock well ahead of its closest competitor, Fidelity’s Wise Origin Bitcoin Fund, which recorded nearly $12 billion in net inflows.
Apart from Bitcoin, BlackRock has also led in Ether ETFs with its iShares Ethereum Trust gathering $3.5 billion in net inflows during the same period. Fidelity trailed with $1.5 billion in net inflows for its Ethereum fund.
Overall, Bitcoin ETFs in the United States have seen remarkable activity, collectively drawing more than $35 billion in net inflows over the year. This comes despite Grayscale Bitcoin Trust experiencing over $20 billion in net outflows. In response, Grayscale introduced a lower-cost product, the Bitcoin Mini Trust, with management fees of 0.15% annually.
The immense growth in Bitcoin ETFs came after their introduction to the U.S. market in January, following regulatory approvals. The sector’s momentum was further buoyed by a positive shift in market sentiment after Donald Trump’s presidential victory, which many in the industry view favorably.
In November, U.S. Bitcoin ETFs reached a milestone, exceeding $100 billion in total net assets for the first time. This year has seen Bitcoin dominate the ETF scene, accounting for six of the ten most successful ETF launches in 2024. Among the approximately 400 new ETFs this year, the largest by inflows have been primarily spot Bitcoin ETFs.
