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Blackrock And Fidelity Spot Bitcoin ETFs Gather More Assets In First Month Than Any Other US ETF In 30 Years

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Spot Bitcoin ETF
Spot Bitcoin ETF

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The spot Bitcoin ETF (exchange-traded fund) products offered by BlackRock and Fidelity have garnered more assets during their first month of trading than any other ETF launched in the US in the last three decades.

The BlackRock iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) have each amassed over $3 billion in assets, the only ETFs to pass that milestone in their first month out of more than 5,535 other ETFs.

The assets generated by the two ETF products within the first month of trading surpassed those of more than 5,500 ETFs launched in the last 30 years.

Bloomberg ETF analyst, Eric Balchunas, said that even with inflation adjusted over the years, IBIT and FBTC would still rank among the top 0.1% of ETFs in the US.

“IBTC and FBTC are in a league of their own,” he added.

Other Spot Bitcoin ETFs Are Performing Well

IBIT and FBTC are not the only top-performing BTC ETFs. The ARK 21Shares and the Bitwise Bitcoin Fund are also among the top 25 BTC ETFs by assets. The ProShares Bitcoin Strategy ETF, a spot Bitcoin futures product, ranked in seventh place.

The President of ETF Store, Nate Geraci, says these numbers dispel the notion that there will be no demand.

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