BlackRock’s Bitcoin exchange-traded fund (ETF) received more than $37 billion in net inflows in 2024, surpassing its competitors, according to data from Farside Investors.
In the same year, BlackRock’s iShares Bitcoin Trust (IBIT) attracted more than three times the inflows of the second-place Fidelity Wise Origin Bitcoin Fund (FBTC), which received nearly $12 billion in net inflows. This information was reported by Farside on December 31st on the X platform.
As the world’s largest asset manager, BlackRock also led in terms of Ether (ETH) ETFs. The iShares Ethereum Trust (ETHA) received $3.5 billion in net inflows during 2024, as stated by Farside.
The Fidelity Ethereum Fund (FETH) secured second place once again, with $1.5 billion in net inflows. “Fidelity is a closer second here, accounting for 44% of BlackRock’s total, compared to 31% in Bitcoin,” Farside mentioned.
Overall, Bitcoin ETFs in the United States saw more than $35 billion in aggregate net inflows for the year. This translates to approximately $144 million in net inflows per trading day, according to Farside.
This figure considers the net outflows of over $20 billion from Grayscale Bitcoin Trust (GBTC), which was initially launched by the asset manager in 2013 as a non-listed trust.
Grayscale’s GBTC charges a management fee of 2.5%. In July, the asset manager introduced Grayscale Bitcoin Mini Trust (BTC) as a more cost-effective alternative with an annual management fee of 0.15%.
Bitcoin ETF dominance
Bitcoin ETFs were listed in the US in January after a lengthy regulatory battle.
The cryptocurrency market experienced a surge following Donald Trump’s victory in the US presidential election, as many believed it would benefit the industry, according to Cointelegraph Research.
On November 21st, US Bitcoin ETFs reached over $100 billion in net assets for the first time, as reported by Bloomberg Intelligence.
Bitcoin has dominated the ETF landscape in 2024, with six of the top 10 most successful launches being Bitcoin ETFs, according to Nate Geraci, president of The ETF Store, as mentioned in an Xpost.
Geraci also stated in September that out of the approximately 400 new ETFs launched in 2024, the four largest launches in terms of inflows were all spot BTC ETFs.