In a year marked by significant growth in the cryptocurrency market, BlackRock’s iShares Bitcoin Trust (IBIT) has emerged as the leading Bitcoin exchange-traded fund (ETF), clocking over $37 billion in net inflows during 2024. According to data from Farside Investors, this figure far surpasses its closest competitors.

Bitcoin ETFs See Massive Net Inflows

The sheer scale of net inflows into BlackRock’s iShares Bitcoin Trust is remarkable, with the fund attracting more than three times the amount of money that runner-up Fidelity Wise Origin Bitcoin Fund (FBTC) managed to pull in. FBTC, which is considered one of the most successful Bitcoin ETFs, attracted nearly $12 billion in net inflows this year.

BlackRock’s Dominance Extends to Ethereum ETFs as Well

The dominance of BlackRock in the ETF space extends beyond Bitcoin to Ethereum as well. The iShares Ethereum Trust (ETHA) saw a staggering $3.5 billion in net inflows during 2024, while Fidelity Ethereum Fund (FETH) managed to pull in $1.5 billion.

Comparison with Fidelity

Farside’s analysis highlights the significant gap between BlackRock and its closest competitor, Fidelity. While Fidelity Ethereum Fund notched second place in terms of net inflows, it still lags behind BlackRock by a substantial margin. According to Farside, Fidelity is only about 44% of BlackRock’s total, compared to 31% in Bitcoin.

US Bitcoin ETFs See Significant Growth

The growth of US Bitcoin ETFs has been nothing short of spectacular in 2024. With over $35 billion in aggregate net inflows for the year, these funds have become increasingly popular among investors. This figure translates to roughly $144 million in net inflows each trading day.

Grayscale’s GBTC Sees Significant Net Outflows

While Bitcoin ETFs have seen massive growth, Grayscale’s GBTC has experienced significant net outflows. Launched by the asset manager in 2013 as a non-listed trust, GBTC charges management fees of 2.5%. In July, Grayscale listed a cheaper alternative, the Grayscale Bitcoin Mini Trust (BTC), with an annual management fee of just 0.15%.

Bitcoin ETF Dominance

The popularity of Bitcoin ETFs has been on the rise in 2024, with six out of the top 10 most successful launches this year being spot BTC ETFs. According to Nate Geraci, president of The ETF Store, "Bitcoin has dominated the ETF landscape this year."

Emergence of Spot BTC ETFs

The emergence of spot BTC ETFs has been a significant development in the world of cryptocurrency investing. With an average trading volume of around 1 billion shares per day, these funds have become increasingly attractive to investors.

Comparison with Other Assets

In comparison to other assets, Bitcoin ETFs have seen remarkable growth this year. According to Bloomberg Intelligence, US Bitcoin ETFs broke $100 billion in net assets for the first time on November 21st. This milestone highlights the increasing popularity of these funds among investors.

Farside’s Analysis

According to Farside Investors, the significant growth of US Bitcoin ETFs can be attributed to several factors. The crypto market surged following Donald Trump’s victory in the US presidential election, with many believing that his win would benefit the industry.

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