BlackRock, Fidelity Spot BTC ETFs Witness Biggest Debut Month for an ETF in 30 Years


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The spot Bitcoin exchange-traded funds (ETFs) from BlackRock, the largest asset management firm in the world, and Fidelity have made history after witnessing the largest debut month for an ETF in the last 30 years in the United States.

As reported earlier by TheCoinRise, the iShares Bitcoin Trust (IBIT) made it into the top 0.16% of all United States-issued ETF products, making waves across the industry. The offering from BlackRock soared to remarkable heights, recording over $3.19 billion in inflows by February 5th.

BlackRock, Fidelity Make History

In a post on social media platform X (formerly known as Twitter), Bloomberg ETF analyst Eric Balchunas stated that IBIT and FBTC, the ETF offerings from BlackRock and Fidelity, are in a “league of [their] own.” 

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As per the data from Bloomberg Intelligence, the spot Bitcoin ETFs from the two asset management firms based in the US have secured more than $3 billion in assets in the first 17 trading days and are the only ones to do so out of a list of over 5,500 ETFs.

Impressive Debuts from BlackRock and Fidelity

Previously, BlackRock’s iShares Climate Conscious & Transition MSCI USA ETF, launched on June 8, 2023, emerged as the frontrunner, boasting an impressive $2.2 billion in assets under management (AUM) during its inaugural month.

Unlike many other ETFs that relied on a “Bring Your Own Assets” (BYOA) model, where a single investor accounted for the entirety of the AUM, both BlackRock and Fidelity’s Bitcoin ETFs have demonstrated remarkable resilience. Since their inception, these ETFs have witnessed consistent inflows on each trading day, a feat described by Balchunas as “literally unprecedented.”

ARK 21Shares and Bitwise Make the Top 25

Notably, the BTC ETFs from ARK 21Shares and Bitwise have also made it to the top 25 in terms of biggest debuts, landing in the 20th and 22nd places, respectively. Further, the ProShares Bitcoin Strategy ETF, a futures product that debuted in October 2021, was placed seventh. 

However, Balchunas also confirmed that ETFs that underwent conversion, like the Grayscale Bitcoin Trust (GBTC), were filtered out by the Bloomberg Intelligence data. 

“This list is only ETFs that were born at the time of launch. I threw out any conversions which includes about 100 Mutual fund to ETF conversions and GBTC (bc they bring over pre-existing assets). Can’t count them as newborns. We don’t count that initial aum as “flows” either,” said Balchunas.

$2B in AUM

As earlier reported by TheCoinRise, the BlackRock spot BTC ETF surpassed $2 billion in AUM in late January, while it also made headlines by surpassing Grayscale’s GBTC in daily trading volume, signaling a shift in investor sentiment and adoption.

The eleven BTC ETF applications were approved by the US Securities and Exchange Commission (SEC) on January 10 and have since seen massive inflows. 

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