The largest asset manager in the world, BlackRock, along with its iShares Bitcoin Trust (IBIT), have formally become members of the elite $10 billion club.
With its quick ascent to prominence, the fund became the first exchange-traded fund (ETF) to surpass the $10 billion mark in assets under management (AUM), a milestone that highlights the growing institutional acceptance of investment vehicles with a concentration on cryptocurrencies.
This milestone was reached in just seven weeks by BlackRock’s Bitcoin ETF. The gold-focused fund GLD has previously held this milestone for a number of decades. To get to this point took over three years.
Leading charge
For each asset class, Bloomberg Intelligence offers a comprehensive overview of the top Bitcoin ETFs. The largest Bitcoin trust is still Grayscale Bitcoin Trust (GBTC), with an amazing $25.7 billion in total volume despite declining flows. Its early debut into the market, which gave investors exposure to Bitcoin through a conventional investment vehicle, is responsible for its size.
The next largest trust after GBTC is BlackRock’s iShares Bitcoin Trust (IBIT), which has impressive assets of $21.9 billion and a remarkable inflow of $7.7 billion as a result of investor interest and high levels of confidence.
With $13.2 billion in assets and a significant inflow of $4.7 billion, Fidelity’s Wise Origin Bitcoin Fund (FBTC) is one of the most famous. The solid brand recognition of Fidelity is advantageous to the fund.
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With $4.5 billion in assets and $1.8 billion in inflows, the ARK 21Shares Bitcoin ETF (ARKB) exemplifies the creative investing approach that ARK is renowned for, concentrating on disruptive technology, such as cryptocurrencies.
Key companies in this space include Bitwise Bitcoin ETF (BITB) and Invesco Galaxy Bitcoin ETF (BTCO), which have respective assets of $4.4 billion and $2.0 billion.
Some funds are lower in size, such as the Valkyrie Bitcoin Fund (BRRR) and the VanEck Bitcoin Trust (HODL).
Titans of ETF world
By contrast, with $497.9 billion in AUM, classic ETFs such as the SPDR S&P 500 ETF Trust (SPY) have a commanding lead, indicating sustained investor confidence in the stock market.
With AUMs of $442.7 billion and $413.7 billion, respectively, the Vanguard S&P 500 ETF (VOO) and the iShares Core S&P 500 ETF ($IVV) trail closely behind.
With sizable AUMs of $374.8 billion and $252.6 billion, respectively, the Vanguard Total Stock Market ETF ($VTI) and the Invesco QQQ Trust Series I (QQQ) complete the list of the top ETFs.
