- IBIT from BlackRock and FBTC from Fidelity have grown very fast, now into the top ten ETFs introduced in the last ten years.
- Demand was so high that Fidelity’s FBTC reached $11 billion in just ten months and BlackRock’s IBIT accumulated $23.2 billion.
- As big names like PayPal and Mastercard dive into blockchain, Bitcoin ETFs are helping traditional finance connect with digital assets.
The Bitcoin ETFs offered by Fidelity and BlackRock in the ETF industry are currently ranked in the top 10 established over the past ten years according to statistics compiled by Eric Balchunas of Bloomberg.
The assets of Fidelity’s Wise Origin Bitcoin ETF (FBTC) are $11 billion, while BlackRock’s iShares Bitcoin Trust ETF (IBIT) has amassed $23.2 billion. With their January 2024 launch, both funds have had considerable growth, indicating the high demand for Bitcoin exchange-traded funds.
Competing with Traditional ETFs in Just 10 Months
The rapid growth of these funds has surprised the financial sector. Besides traditional equity ETFs, Bitcoin-focused funds are now competing in the broader market. BlackRock’s IBIT is the fourth-largest ETF launched in this decade, while Fidelity’s FBTC holds ninth place. This achievement is important, considering that these funds launched just ten months ago. Over 2,000 ETFs have been introduced since 2020, but few have seen such fast growth.
Furthermore, the rising demand for digital assets is demonstrated by the inclusion of ETFs with a cryptocurrency focus in the top rankings. Institutions and people who want exposure to Bitcoin without actually possessing any of it can do so with the help of Bitcoin ETFs. As such, they serve as a conduit for traditional money into digital assets.
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The Future of Decentralized Finance Integration
Furthermore, the increasing popularity of Bitcoin ETFs emphasizes how finance is always changing. The product’s appeal keeps rising in spite of doubts expressed by individuals like SEC Chairman Gary Gensler, who chastised the concentration of Bitcoin ETFs.
This isn’t a trend exclusive to Bitcoin. popular financial companies like Mastercard and PayPal are starting to use blockchain technology. The industry’s commitment to decentralized finance is demonstrated, for instance, by Franklin Templeton’s expansion of blockchain-based solutions and BlackRock’s recent launch of a tokenized fund.
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