BlackRock, Fidelity Bitcoin ETFs see largest debut month of any ETF in 30 years

BlackRock and Fidelity’s spot Bitcoin exchange-traded funds have tallied more assets in their first month of trading than any ETF launched in the United States over the last 30 years.

Bloomberg Intelligence data shows BlackRock’s IBIT and Fidelity’s FBTC have each secured more than $3 billion in assets in the first 17 trading days, the only ones to do so out of a list of over 5,500 ETFs.

IBIT and FBTC are in a “league of [their] own,” said Bloomberg ETF analyst Eric Balchunas in a Feb. 8 post on X.

Before the launch of spot Bitcoin ETFs, BlackRock’s iShares Climate Conscious & Transition MSCI USA ETF — which launched on June 8, 2023 — was the leader with the most AUM in its debut month at $2.2 billion.

Balchunas said BlackRock and Fidelity’s Bitcoin ETF results are even more impressive as most other ETFs that ranked on the list were “BYOA” or “Bring Your Own Assets” type of ETFs — meaning one investor was behind all of the ETF’s assets under management.

BlackRock and Fidelity’s ETFs on the other hand, have seen inflows every single trading day since launch, which Balchunas described as: “Literally unprecedented.”

#news #btc #etf #BlackRock

Feb-9-2024 11:24:46 AM