US Bitcoin (BTC) spot exchange-traded funds (ETFs) have seen unprecedented success since their launch in January. The funds raise billions of dollars in capital every month and break record after record.
In fact, for Wall-Street giants BlackRock and Fidelity, Bitcoin ETFs represent significant proportions of their total inflows.
Success BTC funds BlackRock and Fidelity
Bloomberg ETF analyst Eric Balchunas yesterday shared on social media platform X the top 10 ETF issuers based on inflows during the first five months of the year. In a follow-up message, the expert explained the impact of the newly launched Bitcoin funds for BlackRock, in 2nd place in the rankings, and Fidelity, which is listed in 5th place.
According to Balchunas, BlackRock’s Bitcoin ETF, or “IBIT,” represents 26% of its total year-to-date inflows of $65.1 billion. In fact, Fidelity’s FBTC fund has accounted for a whopping 56% of its total inflows of $15.8 billion since the start of the year.
Data from Farside Investors shows that BlackRock and Fidelity’s BTC funds have raised $16.6 billion and $8.9 billion respectively since launching on January 11. This makes them by far the two best performing funds. Moreover, BlackRock recently even overtook Grayscale’s GBTC, which was previously a closed-end trust fund, as the world’s largest bitcoin ETF.
Asset giant Vanguard, which does not offer Bitcoin ETFs, takes the cake in annual inflows with a total of $102.8 billion.
15 Green Days in a Row for Bitcoin ETFs
Earlier today you could read that the eleven American funds together achieved positive success for the fifteenth day in a row yesterday. With combined net inflows of $105.1 million, the funds continued their impressive green trading streak.
Remarkably, BlackRock did not raise any capital yesterday. Fidelity took the cake with an inflow of $77 million. Grayscale’s GBTC, like BlackRock, saw no significant cash flow yesterday.
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Source: https://newsbit.nl/bitcoin-etfs-zijn-extreem-belangrijk-voor-blackrock-en-fidelity/
