In just 17 days since its launch, the BlackRock iShares Bitcoin Trust (IBIT) has taken the financial world by storm, becoming one of the top five exchange-traded funds (ETFs) of 2024 based on inflows. Bloomberg Intelligence data reveals that IBIT has seen an impressive $3.2 billion in year-to-date inflows, outperforming numerous longstanding index ETFs.

At present, only two funds have surpassed IBIT's inflows: the iShares Core S&P 500 ETF (IVV) and the Vanguard 500 Index Fund ETF (VOO). IVV tops the list with an astonishing $13 billion in inflows this year and manages a whopping $428 billion in assets-under-management (AUM). VOO secures the second position with $11.1 billion in inflows and manages nearly $398 billion in AUM.

Another notable contender in the top 10 is Fidelity's Wise Origin Bitcoin Fund (FBTC), ranking eighth with $2.7 billion in inflows. While all new spot bitcoin ETFs have experienced a slowdown in investment, IBIT and FBTC have remained steady, continuously receiving positive flows since their debut.

It is important to note that these figures represent the entities and numbers mentioned in the available information, as well as the recent developments in the cryptocurrency market. Future updates and developments regarding these funds will be closely monitored and reported by CoinDesk, the renowned independent subsidiary of Bullish group, the owner of Bullish — a regulated institutional digital assets exchange. CoinDesk, acquired in November 2023, adheres to strict editorial policies and upholds the highest journalistic standards under the guidance of an editorial committee chaired by a former editor-in-chief of The Wall Street Journal.

The BlackRock iShares Bitcoin Trust's remarkable performance marks a significant milestone in the evolution of digital assets and highlights the growing mainstream acceptance of cryptocurrencies as an investment vehicle. With its meteoric rise, IBIT has established its position as a formidable player in the ETF market, attracting the attention and interest of seasoned investors and market observers alike.

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