BlackRock Spot BTC ETF Makes Way to the Top 0.2% of All ETFs This Year

The iShares Bitcoin exchange-traded fund (ETF) offered by BlackRock, the largest asset management firm in the world with over $9.6 trillion in assets under management (AUM), has made it into the top 0.16% of all United States-issued ETF products, as per the latest data.

As reported earlier by TheCoinRise, in late January, the AUM of iShares Bitcoin Trust (IBIT) broke above $2 billion after the price of the leading digital asset skyrocketed to $42,000. The offering from the American firm has been quite successful among investors. 

$3.19 Billion in Flows

The spot Bitcoin ETF by BlackRock has soared to remarkable heights, recording over $3.19 billion in inflows as of February 5th. This milestone, unveiled by senior Bloomberg ETF analyst Eric Balchunas, places the Bitcoin ETF in an elite league, trailing only behind broad index funds tracking the S&P 500 and Vanguard’s Total Stock Market ETF.

This surge in inflows underscores the growing appetite for cryptocurrency exposure among investors as they seek to diversify their portfolios and capitalize on the potential of digital assets like Bitcoin.

BlackRock Spot BTC ETF in the Top 0.2%

New data from YCharts reveals the IBIT flows have propelled it to a remarkable position within the ETF landscape. Currently, amidst the 3,109 ETFs trading in the United States, the spot BTC by BlackRock ETF stands out, occupying the esteemed top 0.16%.

Balchunas offered a nuanced perspective, presenting a slightly different calculation. He indicated that the ETF’s performance, when weighed against an estimated 10,000 ETFs worldwide, places it at an impressive 0.02%.

Meanwhile, Fidelity’s Bitcoin Fund emerges as a formidable contender in space, securing the eighth position among US-based ETF products with a substantial $2.51 billion in assets. 

BlackRock, Fidelity ETFs Ranked in the Top 10

As earlier reported by TheCoinRise, the spot BTC ETF offerings from BlackRock and Fidelity were ranked in the list of top 10 ETFs with the most inflow in January. The BlackRock iShares Bitcoin Trust (IBIT) was placed eighth with an estimated $2.6 billion in net flows.

Meanwhile, the Fidelity Wise Origin Bitcoin ETF (FBTC) landed in tenth place with $2.2 billion in net flows.

Charles Schwab to Offer Spot BTC ETF

Notably, a previous report suggested that American multinational financial services company Charles Schwab might be interested in offering a spot BTC ETF in the US. If the rumors are true, BlackRock and Fidelity might face some tough competition. 

Balchunas said that Charles Schwab is currently considering the second-mover advantages of moving in the spot BTC ETF race.