Bitcoin ETF Wars: BlackRock, Fidelity Gain Ground on Vanguard as Grayscale Lags

• 26% of inflows in BlackRock and 56% in Fidelity came from BTC ETFs.
• Vanguard remains the leader in total ETF inflows for 2024, at $102.8 billion.
• IBIT has attracted $16.6 billion in inflows, while FBTC has seen $8.9 billion.

BlackRock’s and Fidelity’s Bitcoin ETFs are driving significant inflows for the firms, accounting for 26% and 56% of their respective year-to-date totals, according to Bloomberg Intelligence data cited by Eric Balchunas.

The BlackRock iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC), which launched in January, have attracted $16.6 billion and $8.9 billion in inflows, respectively, according to Farside Investor data.

Balchunas noted that the Bitcoin ETFs are “definitely having an impact on the leaderboard” due to these significant inflows.

However, Vanguard, which does not offer any Bitcoin ETFs, still leads in total ETF inflows for 2024 with $102.8 billion, far surpassing BlackRock’s $65.1 billion.

BlackRock, the world’s largest asset manager, manages 429 ETFs with a combined $2.8 trillion in Assets Under Management (AUM). Fidelity manages 70 ETFs totaling $74 billion in AUM.

Another ETF issuer, Invesco, recorded $34.7 billion in ETF flows this year, with its Bitcoin ETF contributing only 0.9% to this total, or $317.3 million, in the first five months.

Notably, IBIT recently surpassed the Grayscale Bitcoin Trust (GBTC) as the world’s largest spot Bitcoin ETF. As of May 28, IBIT holds 291,567 BTC, valued at over $20 billion.

Meanwhile, Grayscale, which initially held 620,000 Bitcoin in January, has experienced significant outflows, reducing its holdings to 285,139 BTC, worth approximately $19.6 billion.