Bitcoin ETFs Boost BlackRock and Fidelity Inflows in 2024

BlackRock and Fidelity have seen a significant increase in total ETF inflows this year, with a notable contribution from their Bitcoin exchange-traded funds (ETFs).

Specifically, BlackRock’s Bitcoin ETFs have accounted for 26% of the year-to-date inflows for the company, while Fidelity’s Bitcoin ETFs have contributed to 56% of their total ETF inflows.

BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) have collectively attracted a substantial $16.6 billion and $8.9 billion in inflows since their launch almost five months ago, according to Farside Investor data.

In contrast, Vanguard, despite not offering any Bitcoin ETFs, has amassed a leading total of $102.8 billion in ETF inflows in 2024, outpacing BlackRock, which stands at $65.1 billion.

In the landscape of exchange-traded funds (ETFs), BlackRock stands as a towering giant with a staggering array of 429 ETFs under its management, boasting a formidable total of $2.8 trillion in assets. This dominance is contrasted sharply by Fidelity’s more modest presence, with a mere 70 ETFs in its catalog, collectively managing $74 billion in assets.

In a year marked by significant ETF flows, Invesco has emerged as a noteworthy player, amassing $34.7 billion in flows. Of particular interest is its Bitcoin ETF, which, despite the buzz surrounding cryptocurrencies, accounts for only a fraction—0.9%—of the total inflows.

Yet, even with a relatively modest $317.3 million influx in the first five months of the year, the Bitcoin ETF remains a notable component of Invesco’s overall strategy.

Share & like

Related Posts