Bitcoin ETFs account for 26% of BlackRock’s 2024 fund inflows, while constituting 56% of Fidelity’s.

BlackRock and Fidelity have seen a significant portion of their total ETF inflows this year come from their Bitcoin exchange-traded funds (ETFs), according to Bloomberg ETF analyst Eric Balchunas. BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) have accounted for 26% and 56% of their respective inflows in 2024. In comparison, Vanguard, which does not offer Bitcoin ETFs, has surpassed both BlackRock and Fidelity with $102.8 billion in total ETF inflows this year. BlackRock currently has 429 ETFs with $2.8 trillion in assets under management, while Fidelity has 70 ETFs with $74 billion in AUM. Invesco has recorded $34.7 billion in ETF flows this year, with only 0.9% coming from its Bitcoin ETF. BlackRock’s IBIT recently became the world’s largest spot Bitcoin ETF, surpassing the Grayscale Bitcoin Trust (GBTC). However, Grayscale has seen significant outflows and now holds fewer Bitcoin than IBIT. Bitcoin ETF flows have stabilized recently, with some issuers reporting days of zero inflows or outflows. The average daily inflows for Bitcoin investment products, excluding Grayscale, is $141.7 million.