The BlackRock Bitcoin ETF is ahead of competitors in terms of net income in 2024.
BlackRock's Spot Bitcoin (BTC) exchange-traded fund (ETF) is set to generate more than $37 billion in net revenue by 2024, outperforming its competitors, according to data from Farside Investors.
BlackRock's iShares Bitcoin Trust (IBIT) has more than tripled the flow of runner-up Fidelity Wise Origin Bitcoin Fund (FBTC), which has attracted nearly $12 billion in net inflows this year, Farside said in a Dec. 31 post on the X Forum. .
As the world's largest asset manager, BlackRock leads the pack among Ether (ETH) ETFs. The iShares Ethereum Trust (ETHA) will pull in $3.5 billion in net income by 2024, Farside said.
Fidelity Ethereum Fund (FETH) took second place with $1.5 billion in net income.
“Loyalty is a close second here, 44% Blackrock total, compared to 31% in Bitcoin,” said Farside.
Source: Farside Investors
Related: BlackRock's Bitcoin ETF Copies Gold Fund
Overall, US Bitcoin ETFs saw total net inflows of more than $35 billion for the year. That equates to about $144 million in net revenue per trading day, Farside said.
That figure comes from more than $20 billion in net inflows from Grayscale Bitcoin Trust (GBTC), which was launched by the asset manager in 2013 and was originally an unlisted trust.
Greyscale GBTC charges management fees of 2.5%. In July, asset manager Greyscale listed Bitcoin Mini Trust (BTC) as a cheaper alternative. Its management fees are 0.15% per annum.
Source: Farside Investors
Dominance of the Bitcoin ETF
After a long tussle with regulators, Bitcoin ETFs were listed in the US in January.
The crypto market surged following Donald Trump's victory in the US presidential election, with many believing his victory would be good for the industry, according to a Cointelegraph survey.
In the year On November 21, US Bitcoin ETFs broke $100 billion in net assets for the first time, according to data from Bloomberg Intelligence.
Bitcoin has dominated the ETF landscape this year, accounting for six of the top 10 most successful startups in 2024, ETF Store President Nate Geracchi said in an X post.
In the year Of the nearly 400 new ETFs launched by 2024, the four largest startups by revenue stream are all derived from BTC ETFs, Geraci said in September.
Magazine: Bitcoin payments are being undermined by a centrally stable coin.
