BlackRock, Fidelity’s Bitcoin ETF records largest debut month of any ETF in three decades

Bitcoin ETFs: BlackRock and Fidelity have made a record with their spot Bitcoin ETFs that have garnered more assets in their first month of trading than any other ETF launched in the United States in the last three decades.

Exchange data reveals that BlackRock's IBIT and Fidelity's FBTC have each garnered over $3 billion in assets within the first 17 trading days, setting a new benchmark among over 5,500 ETFs listed. This achievement places IBIT and FBTC in a league of their own, as described by ETF analyst Eric Balchunas.

Before the launch of spot Bitcoin ETFs, BlackRock's iShares Climate Conscious & Transition MSCI USA ETF held the record for the most assets under management (AUM) in its debut month at $2.2 billion.

Balchunas highlighted the exceptional performance of BlackRock and Fidelity's Bitcoin ETFs, noting that unlike many others on the list, which relied on single investors for their AUM, IBIT and FBTC have experienced consistent inflows every trading day since their launch, an unprecedented feat.

In addition to IBIT and FBTC, ARK 21Shares's spot Bitcoin ETF (ARKB) and Bitwise's (BITB) spot Bitcoin ETFs also secured positions in the top 25, ranking 20th and 22nd, respectively. ProShares Bitcoin Strategy ETF initially launched as a futures product in October 2021, claimed the seventh spot.

While acknowledging the significant outflows from Grayscale's Bitcoin ETF, Balchunas attributed the success of spot Bitcoin ETFs to intense competition. He underlined the impact of launching 10 ETFs simultaneously, backed by reputable issuers, which spurred remarkable performance across the board.

Furthermore, IBIT and FBTC's performance outshines some of the largest ETFs by flows this year, with BlackRock's Bitcoin ETF ranking fifth and Fidelity's FBTC in eighth place.