Bitcoin Trust ETF (IBIT) has Experienced Massive Year-to-Date Inflows
BlackRock’s iShares Bitcoin Trust (IBIT) has secured the third-highest year-to-date inflows among US ETFs in 2024, attracting $26.174 billion. This has made it the largest Bitcoin-focused ETF, despite having a total AUM (assets under management) of less than $30.1 billion.
IBIT’s YTD return of 48.52% is almost double the next highest from any of the other top 10 ETFs by fund flow. The ETF has also experienced huge inflows in a single day, surpassing the annual flows of all but the top 150 ETFs in the United States. These substantial inflows into IBIT emphasize the outsized interest in Bitcoin-based financial products and the increasing acceptance and integration of digital assets within mainstream investment portfolios.
Other top ETFs by inflows include Vanguard S&P 500 ETF (VOO) with $88.168 billion and iShares Core S&P 500 ETF (IVV) with $57.539 billion in year-to-date flows. The success of IBIT may encourage more firms to launch Bitcoin-focused products, further integrating digital assets into traditional financial markets.
This could potentially have long-term implications for the asset management industry.
