- BlackRock’s IBIT and Fidelity’s FBTC Bitcoin ETFs have rapidly entered the top 10 ETFs launched this decade by total assets under management.
- IBIT has amassed $23.2 billion in total assets since its inception in January 2024, making it the fourth-largest ETF launched this decade.
- FBTC follows closely with $11 billion in assets, ranking ninth among ETFs launched since 2020.
BlackRock‘s Bitcoin exchange-traded fund (ETF) has seen rapid growth since launching in January 2024, climbing to become one of the largest ETFs of the decade by assets under management (AUM). This highlights the rising mainstream adoption of crypto assets.
Background on BlackRock and Fidelity’s Bitcoin ETFs
Earlier this year, BlackRock launched the iShares Bitcoin Trust ETF (IBIT) and Fidelity debuted the Wise Origin Bitcoin ETF (FBTC). Both ETFs started trading in January 2024.
In just 10 months, these crypto-focused funds have accumulated staggering amounts of assets under management:
- IBIT has attracted $232 billion in AUM, ranking it the 4th largest ETF launched since 2020
- FBTC has amassed $11 billion in assets, placing it 9th among ETFs of the decade
Competing with Top Legacy ETFs
To put the growth of these Bitcoin ETFs in perspective, only about 2,000 ETFs have debuted since 2020. Yet based on assets, IBIT and FBTC now stand alongside prominent legacy ETFs.
The top ETFs launched this decade include:
- JPMorgan Equity Premium Income ETF (JEPI) – $35 billion AUM
- Invesco QQQ Trust ETF (QQQM) – $33 billion AUM
- iShares 0-3 Month Treasury Bond ETF (SGOV) – $25.2 billion AUM
IBIT and FBTC have swiftly caught up to these more established ETFs, reflecting the rising demand for crypto exposure in investor portfolios.
Significance for the Crypto Industry
Ultimately, the rapid ascent of these Bitcoin ETFs marks a key milestone for cryptocurrencies. The billions flowing into funds like IBIT and FBTC show that institutional investors are increasingly embracing digital assets. Crypto is now competing head-to-head with mainstream ETF products.
The success of these innovative crypto ETFs points to a broader integration of digital currencies into the traditional financial system. As more investors gain regulated and familiar access points to cryptocurrencies through funds like these, broader adoption is likely to accelerate.
