BlackRock’s Bitcoin ETF is up 0.2% of all ETFs this year

BlackRock's iShares Bitcoin (BTC) exchange-traded fund (ETF) topped 0.16 percent of ETFs issued in the United States.

According to data from senior Bloomberg ETF analyst Eric Balchunas on Feb. 5, the spot Bitcoin ETF paid $3.19 billion, outperforming broad index funds tracking the S&P 500 and the Vanguard Total Stock Market ETF.

Also, $IBIT is now in the top 5 for YTD flows, meaning more cash has been taken than 99.98% of ETFs. Not bad for 17 days. pic.twitter.com/ehAsZWRoqK

— Eric Balchunas (@EricBalchunas) February 6, 2024

According to data from YCharts, BlackRock's ETF ranks within the top 0.16% of the 3,109 ETFs traded in the United States so far.

Balchunas arrived at a slightly different figure of 0.02% – a figure that measures BlackRock's ETF performance against an estimated 10,000 ETFs worldwide.

Fidelity's Bitcoin fund is the top performer at $2.51 billion — making it eighth among US-based ETFs.

BlackRock and Fidelity Bitcoin ETF continue to top the list, coming in eighth and 10th at the end of January.

While the total flows of other US ETFs are being counted since January 1, 2024, it's worth noting that Bitcoin ETF products were only allowed to trade on January 11. Disability compared to other products.

BitMEX research data shows the difference in flows between BlackRock and Fidelity's Spot Bitcoin ETF versus seven other Bitcoin ETFs (excluding Greyscale).

ARK 21Shares and Bitwise are third and fourth among Bitcoin ETFs, with accumulated flows of $683.7 million and $663.6 million, respectively, as of Feb. 5, data from BitMEX Research shows.

Invesco, Galaxy and Valkyrie are the Bitcoin ETF issuers with total inflows of more than $100 million, while Wisdomtree is in last place with just $11.1 million.

As of publication, net inflows into the top ten Bitcoin ETFs stand at $1.5 trillion since the products first began trading.

As for the competition, BlackRock is a good leader:

1. Blackrock +$3,194M 2. Loyalty +$2,519M 3. Ark +$684M

(Court-generated chart: COPA vs CSW) pic.twitter.com/4LJxCl7Ioy

— BitMEX Research (@BitMEXResearch) February 6, 2024

Outflows from the grayscale continue to decrease.

Meanwhile, Greyscale's convertible spot Bitcoin ETF recorded its sixth consecutive day of declining outflows on Feb. 6 at $73 million, according to BitMEX Research and Bloomberg ETF analyst James Seifert.

Inflows from other Bitcoin ETF issuers have consistently outpaced outflows from Greyscale's GBTC for at least seven consecutive days.

The outflow from $GBTC continues to decrease. But so are flows into other products. BBG's data confirms a cost of $72.7 million for GBTC. https://t.co/o3ma6C9LA7

— James Seyff (@JSeyff) February 6, 2024

The new figure is an 88% drop from the worst day of outflows on Jan. 22, which saw $640 million in outflows from the newly converted ETF.

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