BlackRock and Fidelity’s spot Bitcoin exchange-traded funds (ETFs) have accounted for a significant share of the issuers’ total ETF inflows this year. According to Bloomberg ETF analyst Eric Balchunas, data from Bloomberg Intelligence indicates that Bitcoin ETFs constitute 26% of BlackRock's and 56% of Fidelity's year-to-date inflows.

BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) have seen $16.6 billion and $8.9 billion in inflows respectively since their launch nearly five months ago, according to Farside Investor data. Despite these substantial inflows, Vanguard remains the leading ETF asset manager with $102.8 billion in total ETF inflows for 2024, compared to BlackRock’s $65.1 billion.

BlackRock, with 429 ETFs totaling $2.8 trillion in assets under management (AUM), and Fidelity, with 70 ETFs combining for $74 billion in AUM, have seen significant contributions from their Bitcoin ETFs. In contrast, Invesco has recorded $34.7 billion in ETF flows this year, with only 0.9% of the total, or $317.3 million, coming from its Bitcoin ETF.

On May 28, BlackRock’s IBIT surpassed the Grayscale Bitcoin Trust (GBTC) as the world’s largest spot Bitcoin ETF. IBIT now holds 291,567 BTC, worth over $20 billion at current prices, while Grayscale's holdings have declined from an initial 620,000 BTC to 285,139 BTC, worth around $19.6 billion.

Bitcoin ETF inflows have recently leveled out, with many issuers reporting days of zero inflows and outflows. For example, the Franklin Bitcoin ETF (EZBC) has not had any inflows or outflows since May 16, according to Farside Investors. Excluding Grayscale, Bitcoin investment products are currently averaging $141.7 million in daily inflows, primarily driven by IBIT, FBTC, and to a lesser extent, the ARK 21Shares Bitcoin ETF (ARKB).

Despite the impressive performance of Bitcoin ETFs, traditional ETF giants like Vanguard continue to dominate the overall market, reflecting diverse investor preferences across different asset classes.