BlackRock’s Bitcoin ETF Dominates with $1.1B Surge, Overtakes VTI in Yearly Inflows

• BlackRock’s IBIT ETF surged over $1.1 billion in inflows, surpassing VTI for third place among year-to-date ETF flows.
• VOO dominated with $79.3 billion in year-to-date inflows, while IBIT secured its spot in the top 2% of U.S. ETFs.
• Despite Bitcoin ETFs thriving, spot Ethereum ETFs have yet to gain similar traction, though experts see future potential.

BlackRock’s Bitcoin ETF, IBIT, had an exceptional week, bringing in over $1.1 billion. This surge represents the best performance since March. Consequently, IBIT has surpassed VTI for third place in year-to-date inflows among ETFs. This achievement is remarkable, especially for a new launch late in the year. Additionally, IBIT’s assets under management (AUM) now stand at $26 billion, placing it in the top 2% of all U.S. ETFs.

$IBIT had one hell of a week, +$1.1b in new cash, best week since March, passed $VTI for 3rd place overall in YTD flows (insane for new launch, esp late in year, the rest of the top 5 is each over 20yrs and old and over $300b. $IBIT's aum is $26b which is in top 2% of all ETFs. pic.twitter.com/KX7eD3EzFP

— Eric Balchunas (@EricBalchunas) October 21, 2024

Strong Market Performance

The data illustrates fund flows across various ETFs. VOO led the recent trading day with inflows of $263.95 million. In contrast, IVV experienced a slight dip, showing negative daily flows of -$58.74 million. However, IVV maintained positive weekly flows of $464.56 million. 

Moreover, IBIT consistently attracted positive flows, with $70.41 million entering the fund in the latest session. The one-month flow statistics highlight VOO’s $10.3 billion, while VTI experienced outflows of $2.94 billion.

Furthermore, the three-month data reveals strong institutional interest. VOO accumulated an astounding $29.8 billion in fresh capital, confirming its popularity. Year-to-date figures show VOO dominating with $79.3 billion inflows, while IVV follows with $51.3 billion. 

Despite mixed flows, QQQ gained $247.30 million daily but lost $1.37 billion over the past three months. Consequently, total aggregate flows remain positive across all timeframes, totaling $778.1 billion year-to-date.

Bitcoin ETF Momentum

Significantly, BlackRock’s IBIT accounted for half of the $2.2 billion in inflows recorded by U.S. spot Bitcoin ETFs from October 14 to October 18. These inflows mark another milestone for BlackRock’s Bitcoin ETF. Hence, IBIT’s recent performance confirms its status as the fastest-growing ETF on Wall Street and in financial history.

While Bitcoin ETFs receive considerable media attention, spot Ethereum ETFs lag behind. Although they have seen more modest milestones, experts believe in their potential. Bitwise CIO Matt Hougan suggests that Ethereum ETFs will succeed. He notes that the expanding ecosystem and institutional appeal of Ethereum will attract more capital to ETH funds in the future.

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