Bitcoin ETF Performance Surges with BlackRock and VanEck Leading the Wave

By: Eliza Bennet

Bitcoin Exchange Traded Funds (ETFs) have experienced significant inflows with BlackRock's iShares Bitcoin ETF (IBIT) and VanEck leading the march. These inflows reflect the growing interest in Bitcoin investments among institutional and retail investors alike.

IBIT, BlackRock's ETF, saw its assets under management (AUM) soar by nearly 50% in less than 10 days amid Bitcoin's recent market rally. This increase positions IBIT as the largest spot Bitcoin ETF of the Newborn Nine, excluding Grayscale's converted GBTC ETF. The fund has also collected 203,754 BTC for investors in less than three months, putting it just behind MicroStrategy which holds 205,000 BTC.

On March 11, 2024, Bitcoin ETFs experienced net inflows of over $500 million, with IBIT leading the pack at $562.9 million–a 0.12% increase in total assets. Notably, VanEck attracted inflows worth $119 million following its announcement to waive fees until 2025 or until reaching $1.5 billion in AUM.

These encouraging developments affirm growing interest in Bitcoin investments and reinforce the success of the recent approval of Bitcoin ETFs by the SEC.