The first 10 spot ETFs were officially approved earlier this year. They immediately enjoyed great popularity – two ETFs were even among the most popular new ETF launches of the last 30 years. But that is not all; Even now, the funds still seem to be delivering absurd growth numbers.
Bitcoin ETFs are among the most popular stock market funds of 2024
On the social media platform
This is something very special because there are exchange funds that own many more assets than IBIT and FBTC. For example, the S&P 500 index funds VOO and IVV manage $426 billion and $446 billion, respectively, and the VTI stock exchange fund for global stocks manages $380 billion.
According to Bloomberg data for IBIT and FBTC, the counter stood at $16 billion and $9.4 billion, respectively, on Monday. The funds have only existed since January 11th, so all the money has only flowed into the fund since that day.
It’s striking that Bloomberg claims that growth since “the beginning of this year” (read: since January 11) for the spot ETFs is $12.5 billion and $6.8 billion, respectively. It’s not exactly clear how these numbers were determined, but it’s certainly obvious that the actual numbers are slightly higher.
$IBIT And $FBTC Now both are in the top 5 ETFs by YTD flows. Look at the wealth differences in the second column. Little babies hang with giants. Wild shit. pic.twitter.com/qx9gZpLjCY
— Eric Balchunas (@EricBalchunas) March 18, 2024
Bitcoin ETFs are breaking records
These two funds have already broken several records. For example, they were more successful in terms of money flows than all 500 ETFs launched in 2023.
Additionally, the 10 spot ETFs have already attracted record amounts of capital for crypto funds in general on several occasions this year. IBIT and FBTC in particular ensured this; Grayscale’s GBTC has shrunk significantly over the same period. Nevertheless, growth was net positive.