BlackRock Dominates Bitcoin ETFs with Record $37B Inflows

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BlackRock Dominates Bitcoin ETFs with Record $37 Billion Inflows in 2024

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 02, 2025

Key Takeaways

BlackRock’s iShares Bitcoin Trust led 2024 with $37 billion in inflows, far outpacing Fidelity’s $12 billion;
US Bitcoin ETFs saw $35 billion in net inflows, while Grayscale faced $20 billion in outflows;
BlackRock also topped Ethereum ETFs, which attracted $3.5 billion, over double Fidelity’s $1.5 billion.

BlackRock Dominates Bitcoin ETFs with Record $37 Billion Inflows in 2024

BlackRock’s iShares Bitcoin BTC $98,043.69 Trust (IBIT) recorded over $37 billion in net inflows in 2024, which secured its position as the market leader in Bitcoin exchange-traded funds (ETFs).

According to data shared by Farside Investors on December 31, BlackRock outperformed its closest competitor, Fidelity’s Wise Origin Bitcoin Fund (FBTC), which drew nearly $12 billion in net inflows during the year.

Meanwhile, Grayscale Bitcoin Trust (GBTC) experienced more than $20 billion in net outflows.

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Launched in 2013, GBTC was one of the first Bitcoin investment products but has seen reduced demand due to its 2.5% management fee. To address this, Grayscale introduced a lower-cost alternative, Grayscale Bitcoin Mini Trust, in July, which charges an annual fee of 0.15%.

Bitcoin ETFs in the United States collectively attracted over $35 billion in net inflows throughout the year. This equates to about $144 million entering these funds daily.

BlackRock also led in Ethereum-focused ETFs. Its iShares Ethereum ETH $3,588.62 Trust (ETHA) saw $3.5 billion in net inflows, more than double the $1.5 billion recorded by Fidelity’s Ethereum Fund (FETH).

According to Farside, Fidelity’s share of Ethereum inflows was closer to BlackRock’s at 44%, compared to its 31% share of Bitcoin inflows.

Meanwhile, in December 2024, BlackRock made a bold claim about Bitcoin's 21 million fixed supply cap in a video posted on X. How did the crypto community react? Read the full story.