The Bitcoin spot ETF is not only one of the most successful products in the US ETF market, but it has also attracted a significant amount of capital on Wall Street. The traditional financial institutions that initially chose to enter this product have also enjoyed the sweet fruit.
According to Eric Balchunas, an ETF analyst at Bloomberg, citing data from Bloomberg Intelligence, the US financial giants BlackRock and Fidelity have seen a net inflow of $65.1 billion and $15 billion respectively into their index stock ETFs so far this year.
Source: Eric Balchunas
According to data from Farside Investor, in the past five months, BlackRock’s “iShares Bitcoin Trust Fund” (IBIT) and Fidelity’s “Fidelity Wise Origin Bitcoin Fund” (FBTC) have seen inflows of $16.6 billion and $8.9 billion respectively. In other words, the net inflows of these two institutions’ Bitcoin ETFs accounted for 26% and 56% of their total asset inflows this year, indicating that the listing of Bitcoin ETFs has brought huge performance to these institutions.
However, not every Bitcoin ETF issuer has performed as well. According to statistics, Invesco’s total ETF inflows reached $34.7 billion this year, but only 0.9% of that came from its Bitcoin ETF (BTCO).
