A sizable portion of the issuers’ overall ETF inflows this year come from BlackRock and Fidelity’s spot Bitcoin ETFs.

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Significant Inflows for BlackRock and Fidelity

Based on statistics from Bloomberg Intelligence, Bloomberg ETF analyst Eric Balchunas notes that BlackRock’s Bitcoin ETFs amount to 26% and 56%, respectively, in year-to-date inflows.

Based on Farside Investor statistics, BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) have attracted $16.6 billion and $8.9 billion in inflows since their introduction over five months ago.

But Vanguard, without any Bitcoin ETFs, leads with $102.8 billion in total ETF inflows thus far in 2024, surpassing BlackRock at $65.1 billion.

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Data from Stock Analysis shows BlackRock now lists 429 ETFs with total assets under management of $2.8 trillion. Conversely, Fidelity only lists 70 ETFs, with an AUM of $74 billion.

Invesco has recorded $34.7 billion in ETF flows this year; just 0.9% of the total comes from its Bitcoin ETF, which has total inflows of $317.3 million for the first five months of the year.

Current Market Trends and Performance

On May 28, BlackRock’s IBIT exceeded the Grayscale Bitcoin Trust (GBTC) as the biggest spot Bitcoin ETF available worldwide. Based on the Apollo Bitcoin Tracker, IBIT now owns 291,567 BTC, valued somewhat over $20 billion at current rates.

Grayscale had 620,000 bitcoins at first when the GBTC changed into spot form. But since then, it has suffered major withdrawals; at current pricing, it only possesses 285,139 BTC, valued at around $19.6 billion.

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With several ETF issuers noting days of zero inflows and outflows in recent weeks, bitcoin ETF flows have largely steadied out lately.

Farside Investors claims, for instance, that the Franklin Bitcoin ETF (EZBC) has not had any inflow or outflow since May 16.

Made largely of IBIT, FBTC, and, to a lesser degree, the ARK 21Shares Bitcoin ETF (ARKB), the Bitcoin investment products from Grayscale are now averaging $141.7 million in inflows per trading day.