Key facts
- BlackRock's iShares Bitcoin Trust (IBIT) has returned 71% since its January 2024 launch.
- Vanguard's S&P 500 ETF (VOO) has returned 66% in the same period.
- IBIT is the largest spot bitcoin ETF by assets under management, holding $61.4 billion.
- The SEC approved 11 spot bitcoin ETFs in early 2024.
BlackRock's iShares Bitcoin Trust (IBIT) has delivered a higher cumulative return than Vanguard's S&P 500 ETF (VOO) since their respective launches in January 2024. IBIT has gained 71%, while VOO has returned 66%.
Eric Balchunas, a senior ETF analyst at Bloomberg, noted that while IBIT's performance is slightly ahead, its trajectory has been significantly more volatile, likening it to a roller coaster compared to VOO's smoother path.
Following the SEC's approval of 11 spot bitcoin ETFs in early 2024, BlackRock's product has become the most successful, managing $61.4 billion in assets. Fidelity's Wise Origin Bitcoin Fund is the second largest with nearly $11 billion.
BlackRock's entry into the spot bitcoin ETF market in 2023 was a significant event, providing traditional investors with easier access to bitcoin. Recent investor inflows into ETFs, totaling over $2.8 billion in late August, have also contributed to bitcoin's price appreciation.