BlackRock and Fidelity, two prominent investment firms, have seen a significant portion of their total ETF inflows this year coming from their Bitcoin exchange-traded funds (ETFs). According to Bloomberg ETF analyst Eric Balchunas, BlackRock’s Bitcoin ETFs account for 26% of its year-to-date inflows, while Fidelity’s Bitcoin ETFs make up 56% of its inflows. Since their launch five months ago, BlackRock’s iShares Bitcoin Trust (IBIT) has received $16.6 billion in inflows, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) has attracted $8.9 billion, according to data from Farside Investor.
In comparison, Vanguard, another investment firm that does not offer Bitcoin ETFs, has surpassed both BlackRock and Fidelity in total ETF inflows this year, with a whopping $102.8 billion. BlackRock trails behind with $65.1 billion.
BlackRock currently lists 429 ETFs, managing a total of $2.8 trillion in assets, while Fidelity only offers 70 ETFs with $74 billion in assets under management (AUM), according to data from Stock Analysis.
Meanwhile, Invesco has seen $34.7 billion in ETF flows this year, with only 0.9% coming from its Bitcoin ETF. The Invesco Bitcoin ETF has attracted a total of $317.3 million in inflows in the first five months of the year.
BlackRock’s IBIT recently surpassed Grayscale Bitcoin Trust (GBTC) as the world’s largest Bitcoin ETF in terms of spot holdings. As of May 28, IBIT holds 291,567 BTC, valued at over $20 billion at current prices, according to the Apollo Bitcoin Tracker. In contrast, Grayscale’s holdings have declined to 285,139 BTC, worth around $19.6 billion.
Bitcoin ETF flows have stabilized recently, with many issuers recording days of zero inflows and outflows in recent weeks. For example, the Franklin Bitcoin ETF (EZBC) has not seen any inflows or outflows since May 16, according to Farside Investors.
The Bitcoin investment products, excluding Grayscale, are currently experiencing an average of $141.7 million in inflows each trading day, primarily driven by IBIT, FBTC, and to a lesser extent, the ARK 21Shares Bitcoin ETF (ARKB).
Overall, the launch of a Bitcoin ETF in Hong Kong has been highly successful, ranking in the “top 20%,” and a suspect involved in a scam related to STRK has been apprehended, according to Asia Express magazine.