BlackRock's Bitcoin ETF Surpasses Rivals in 2024 Net Inflows

In a year marked by significant growth for the cryptocurrency market, BlackRock’s iShares Bitcoin Trust (IBIT) has emerged as the clear leader among exchange-traded funds (ETFs). According to data from Farside Investors, IBIT attracted over $37 billion in net inflows during 2024, outpacing its competitors and solidifying its position as a major player in the market.

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Runner-Up Fidelity’s Wise Origin Bitcoin Fund Trails Behind

Fidelity’s Wise Origin Bitcoin Fund (FBTC) came in second place, with nearly $12 billion in net inflows. While this is still an impressive figure, it pales in comparison to IBIT’s massive haul. Farside attributed Fidelity’s success to its strong reputation and the fact that it is a closer second to BlackRock’s totals, accounting for 44% of the total compared to 31% in Bitcoin.

BlackRock Leads the Pack Among Ether ETFs as Well

In addition to its dominance in the Bitcoin space, BlackRock also led the pack among Ethereum (ETH) ETFs. The iShares Ethereum Trust (ETHA) pulled in $3.5 billion in net inflows during 2024, according to Farside. Fidelity’s Ethereum Fund (FETH) took second place with $1.5 billion in net inflows.

US Bitcoin ETFs See Over $35 Billion in Aggregate Net Inflows

The overall performance of United States Bitcoin ETFs has been impressive, with over $35 billion in aggregate net inflows for the year. This equates to roughly $144 million in net inflows each trading day, according to Farside. Notably, this figure factors in more than $20 billion in net outflows from Grayscale’s Bitcoin Trust (GBTC), which was launched in 2013 as a non-listed trust.

Grayscale’s GBTC Faces Increased Competition with Lower Fees

One of the key factors contributing to the success of BlackRock and Fidelity is their lower fees compared to Grayscale. While Grayscale charges management fees of 2.5%, the new spot Bitcoin ETFs listed by these asset managers charge significantly less, at around 0.15% annually.

Bitcoin Dominance in the ETF Landscape

The dominance of Bitcoin in the ETF landscape can be attributed in part to its surge in popularity following Donald Trump’s victory in the US presidential election. The crypto market as a whole has experienced significant growth this year, with Bitcoin leading the charge.

US Bitcoin ETFs Break $100 Billion in Net Assets for the First Time

On November 21st, US Bitcoin ETFs broke the $100 billion mark in net assets for the first time, according to data from Bloomberg Intelligence. This milestone is a testament to the growing interest and investment in the cryptocurrency space.

Spot BTC ETFs Dominate New Launches in 2024

According to Nate Geraci, president of The ETF Store, Bitcoin has dominated the ETF landscape this year, accounting for six of the top 10 most successful launches in 2024. Of the approximately 400 new ETFs launched in 2024, the four biggest launches by inflows have all been spot BTC ETFs.

Magazine: Bitcoin Payments Being Undermined by Centralized Stablecoins

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