Spot Bitcoin exchange-traded fund (ETF) IBIT, FBTC and FBTC will be among the 20 largest by 2024. They are expected to amass $49 billion, representing 4.3%, of all flows. highlighted Eric Balchunas is a Bloomberg ETF analyst.
BlackRock IBIT’s IBIT was the third biggest inflow of capital last year. Over $37 billion dollars in capital flowed to the US traded Bitcoin ETF. IBIT has assets under management that total $52 billion. This is more than any other ETF in the top twenty.
IBIT was bested by two other giant traditional ETFs tied to the S&P 500. The iShares Core S&P 500 ETF (IVV) registered nearly $87 billion in flows, over two times the amount registered by IBIT, and Vanguard S&P 500 ETF (VOO) surpassed $116 billion in inflows.
Meanwhile, Fidelity’s FBTC secured the 14th place, with $11.8 billion in yearly flows. Yet, its AUM is considerably lower than IBIT’s, at nearly $19 billion.
The ETF Market accumulated $1,14 trillion of flows. FBTC net flows and IBIT combined represent 4.3%. Both funds are less than a year old.
Another milestone conquered by US-traded Bitcoin ETFs — including spot, derivatives, and leverage — was surpassing gold ETFs’ total AUM in mid-December.
Get ready for an amazing year
President-elect Donald Trump’s pro-crypto stance, which has already seen favorable nominations to key regulatory positions, has sparked optimism among industry players.
Analysts say that ETFs are among areas of growth in the US under a more friendly administration. Bitwise estimated that 35 billion Bitcoin ETFs will see a surge in demand In less than two short years, the funds have brought in more than $70 billion.
Balchunas, along with his colleague James Seyffart of Bloomberg ETF analysts, expects a new wave of ETF approvals in this year. The pressure to boost this market may not yet be sufficient to beat the industry giants.
Adam Back, the co-founder of Blockstream and its CEO, asked Balchunas whether a Bitcoin ETF on a specific spot could surpass it in terms of inflows for this year.
Balchunas:
“Maybe… VOO will be very tough to beat by anyone let alone a newcomer like IBIT. It’s almost like a public utility at this point. Gas, electric and VOO.”
Two Bitcoin ETFs ranked among the Top 20 products in their first year of existence is an impressive achievement.
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