The just-concluded year, 2024, set a new benchmark for the ETF industry, with Bitcoin ETFs contributing massively to a historic total net inflows of $1.14 trillion.
The BlackRock Bitcoin ETF (IBIT) secured $37.25 billion in assets during its first year of trading. According to Eric Balchunas, senior ETF analyst at Bloomberg, this significant figure placed it in third place on the final Top 20 ETF Leaderboard for 2024.
This rapid growth for an ETF that is less than a year old highlights the growing institutional interest in cryptocurrency, particularly Bitcoin.
Top Ranking ETFs for 2024 Amid Record $1T Inflows
Meanwhile, the Vanguard S&P 500 ETF (VOO) and iShares Core S&P 500 ETF (IVV) claimed the top two spots. VOO closed 2024 with a massive $116 billion inflow, a staggering $65 billion more than its previous record. Likewise, IVV finished with $89 billion in assets.
Despite their dominance, the rapid rise of IBIT in under a year of launch indicates how investors are increasingly looking to diversify into digital assets through ETFs.
Notably, total flows into mainstream ETFs in 2024 broke records, with $1.14 trillion flowing into the sector. This figure represents a 25% increase from the previous year, totaling $225 billion more in assets.
Bitcoin ETFs Market With Record Inflows
Besides BlackRock’s IBIT, no other crypto investment product made it to the top ten ranking for highest flows in 2024. BlackRock’s closest rival, the Fidelity Wise Origin Bitcoin Fund (FBTC), ranked 14th with a one-year inflow of $11.84 billion. For context, BlackRock’s ETF inflow for 2024 was more than three times this figure.
BlackRock and Fidelity have been the two behemoths of the Bitcoin spot ETF market. Their closest rival in terms of inflows was the Bitwise Bitcoin ETF (BITB), which saw only $2.17 billion in inflows throughout 2024.
While these asset managers are registering notable Bitcoin investments throughout 2024, Grayscale, once the market leader, bled $21.296 billion in outflows for the year.
Despite this staggering outflow from Grayscale, the overall U.S. Bitcoin spot ETF market welcomed a net positive flow of $35.24 billion—an impressive figure attained even before their first birthday.
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