We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
In an unprecedented surge of investor interest, spot bitcoin ETFs witnessed record inflows exceeding $1 billion in a single day on Mar 12, according to data from BitMEX Research. BlackRock's iShares Bitcoin Trust (IBIT - Free Report) was at the forefront, attracting nearly $850 million of capital. This underscores the rapidly growing enthusiasm for Bitcoin and its related financial products.
Since its launch on Jan 11, 2024, IBIT has remarkably amassed more than $11 billion in inflows, dwarfing the combined inflows of nine other issuers who received approval from the Securities and Exchange Commission (SEC) to launch bitcoin spot price-based ETFs. The success of IBIT reflects a substantial shift in investment trends toward digital assets, especially Bitcoin, which remains the most significant cryptocurrency by market capitalization (read: Spot Bitcoin ETF (IBIT - Free Report) Tops $10 Billion in AUM).
IBIT was followed by inflows of $524 million for Bitwise Bitcoin Fund (BITB - Free Report) , $215.5 million for Fidelity’s Wise Origin Bitcoin Fund (FBTC - Free Report) , $188.5 million for Valkyrie Bitcoin Fund (BRRR - Free Report) and $118.9 million for VanEck Bitcoin Trust (HODL - Free Report) . This growth is reflective of the broadening appeal of bitcoin ETFs among investors seeking exposure to the cryptocurrency market through regulated financial products. The collective AUM of the 10 spot bitcoin ETFs has exceeded $60 billion.
With the unprecedented amount of capital flowing into crypto products, the world's largest cryptocurrency has been on an unstoppable rally. Bitcoin surpassed the $73,000 mark for the first time ever. This marks the fourth all-time high in six days. A looming reduction in the digital token’s supply growth (halving event) is also contributing to its huge rally (read: Bitcoin on an Unstoppable Rally: 5 Sizzling Hot ETFs).
With Bitcoin's unique position in the digital currency space, many remain bullish on its future, forecasting it to breach the $100,000 mark before year-end. Further, Bitcoin seems to be a potential successor to gold as a secure asset, promising continued value growth driven by its increasing integration into the financial ecosystem. The cryptocurrency’s resilience to economic uncertainties like inflation and interest rate hikes positions it favorably in the current economic environment.
Let’s delve into the abovementioned ETFs in detail:
iShares Bitcoin Trust seeks to reflect the performance of the price of Bitcoin. It enables investors to access Bitcoin within a traditional brokerage account. The fund charges 25 bps in annual fees from investors. IBIT has AUM of $14.8 billion and trades in an average daily volume of $26.6 million shares.
Fidelity Wise Origin Bitcoin Trust offers exposure to the price of bitcoin — without buying bitcoin directly — in brokerage, trust, and tax-advantaged accounts. The entire fee of 0.25% has been waived until Jul 31, 2024. It trades in an average daily volume of 11 million shares and has amassed $9.2 billion in AUM.
With AUM of $1.9 billion, Bitwise Bitcoin ETF invests directly in Bitcoin and is easily accessible from a brokerage account. It has the lowest fees among the spot Bitcoin ETFs at 0.20% (read: Bitcoin Bulls Racing for $450K? Zooming in on Crypto ETFs).
Valkyrie Bitcoin Fund reflects the performance of the value of a bitcoin as represented by the CME CF Bitcoin Reference Rate - New York Variant. It has an expense ratio of 0.25%, but the fee has been waived off for the first three months. Valkyrie Bitcoin Fund has accumulated $404.3 million in its asset base and trades in an average daily volume of 263,000 shares.
VanEck Bitcoin Trust seeks to reflect the performance of the price of Bitcoin less the expenses of the Trust's operations. It charges 20 bps in annual fees but the entire fee will be waived off for the first $1.5 billion of the Trust’s assets. VanEck Bitcoin Trust currently has $438.5 million in AUM and trades in a volume of 418,000 shares a day on average.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Spot Bitcoin ETFs Smash Records With $1B Inflows
In an unprecedented surge of investor interest, spot bitcoin ETFs witnessed record inflows exceeding $1 billion in a single day on Mar 12, according to data from BitMEX Research. BlackRock's iShares Bitcoin Trust (IBIT - Free Report) was at the forefront, attracting nearly $850 million of capital. This underscores the rapidly growing enthusiasm for Bitcoin and its related financial products.
Since its launch on Jan 11, 2024, IBIT has remarkably amassed more than $11 billion in inflows, dwarfing the combined inflows of nine other issuers who received approval from the Securities and Exchange Commission (SEC) to launch bitcoin spot price-based ETFs. The success of IBIT reflects a substantial shift in investment trends toward digital assets, especially Bitcoin, which remains the most significant cryptocurrency by market capitalization (read: Spot Bitcoin ETF (IBIT - Free Report) Tops $10 Billion in AUM).
IBIT was followed by inflows of $524 million for Bitwise Bitcoin Fund (BITB - Free Report) , $215.5 million for Fidelity’s Wise Origin Bitcoin Fund (FBTC - Free Report) , $188.5 million for Valkyrie Bitcoin Fund (BRRR - Free Report) and $118.9 million for VanEck Bitcoin Trust (HODL - Free Report) . This growth is reflective of the broadening appeal of bitcoin ETFs among investors seeking exposure to the cryptocurrency market through regulated financial products. The collective AUM of the 10 spot bitcoin ETFs has exceeded $60 billion.
With the unprecedented amount of capital flowing into crypto products, the world's largest cryptocurrency has been on an unstoppable rally. Bitcoin surpassed the $73,000 mark for the first time ever. This marks the fourth all-time high in six days. A looming reduction in the digital token’s supply growth (halving event) is also contributing to its huge rally (read: Bitcoin on an Unstoppable Rally: 5 Sizzling Hot ETFs).
With Bitcoin's unique position in the digital currency space, many remain bullish on its future, forecasting it to breach the $100,000 mark before year-end. Further, Bitcoin seems to be a potential successor to gold as a secure asset, promising continued value growth driven by its increasing integration into the financial ecosystem. The cryptocurrency’s resilience to economic uncertainties like inflation and interest rate hikes positions it favorably in the current economic environment.
Let’s delve into the abovementioned ETFs in detail:
iShares Bitcoin Trust (IBIT - Free Report)
iShares Bitcoin Trust seeks to reflect the performance of the price of Bitcoin. It enables investors to access Bitcoin within a traditional brokerage account. The fund charges 25 bps in annual fees from investors. IBIT has AUM of $14.8 billion and trades in an average daily volume of $26.6 million shares.
Fidelity Wise Origin Bitcoin Trust (FBTC - Free Report)
Fidelity Wise Origin Bitcoin Trust offers exposure to the price of bitcoin — without buying bitcoin directly — in brokerage, trust, and tax-advantaged accounts. The entire fee of 0.25% has been waived until Jul 31, 2024. It trades in an average daily volume of 11 million shares and has amassed $9.2 billion in AUM.
Bitwise Bitcoin ETF (BITB - Free Report)
With AUM of $1.9 billion, Bitwise Bitcoin ETF invests directly in Bitcoin and is easily accessible from a brokerage account. It has the lowest fees among the spot Bitcoin ETFs at 0.20% (read: Bitcoin Bulls Racing for $450K? Zooming in on Crypto ETFs).
Valkyrie Bitcoin Fund (BRRR - Free Report)
Valkyrie Bitcoin Fund reflects the performance of the value of a bitcoin as represented by the CME CF Bitcoin Reference Rate - New York Variant. It has an expense ratio of 0.25%, but the fee has been waived off for the first three months. Valkyrie Bitcoin Fund has accumulated $404.3 million in its asset base and trades in an average daily volume of 263,000 shares.
VanEck Bitcoin Trust (HODL - Free Report)
VanEck Bitcoin Trust seeks to reflect the performance of the price of Bitcoin less the expenses of the Trust's operations. It charges 20 bps in annual fees but the entire fee will be waived off for the first $1.5 billion of the Trust’s assets. VanEck Bitcoin Trust currently has $438.5 million in AUM and trades in a volume of 418,000 shares a day on average.