IBIT, FBTC Land in Top 10 ETFs of the Decade While Bitcoin ETF Outflows Hit $92M

Key Takeaways

• Bitcoin ETFs command $55.85 billion in net assets or 4.64% of BTC’s market cap.
• BlackRock’s BTC and ETH ETFs have combined cumulative net inflows of $22.68 billion.
• Grayscale’s primary BTC fund has seen $20.12 billion in cumulative net outflows.

BlackRock and Fidelity’s Bitcoin (BTC) exchange-traded funds (ETFs) are the top-performing crypto funds on the market, pulling over $30 billion in combined inflows. As a result, they now stand amongst the top ten ETFs launched this decade.

However, trailing that optimism is a sense of market uncertainty as outflows knock BTC ETFs for a second day in a row.

BlackRock and Fidelity Up Top

In a recent post to X, Bloomberg’s senior ETF analyst, Eric Balchunas, compiled a list of the top-performing ETFs launched this decade, and two Bitcoin ETFs are amongst these titans.

Looking at the numbers, BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) hold the fourth and ninth positions, respectively, amongst a sea of gigantic funds, most of which launched in 2020.

As per the latest data from SoSoValue, IBIT has seen $21.52 billion in cumulative net inflows, and FBTC has seen $9.87 billion since launching on Jan. 11, 2024.

The same can be said for their Ethereum ETFs, which have a combined cumulative inflow of over $1.6 billion since their July 23 debut.

Bitcoin ETFs

According to SoSoValue, Bitcoin ETFs saw $91.75 million in net outflows on Oct. 2 as the markets wrestle against compounding macroeconomic and geopolitical issues.

Bitcoin ETF flows. Source: SoSoValue

Fidelity’s Wise Origin Bitcoin Fund (FBTC) is the only fund in the green, posting $21.08 million in net inflows.

As a result of recent price fluctuations and a lofty $144 million in outflows on Oct. 1, FBTC’s cumulative net inflow is down to $9.87 billion, though it remains the second-best performing BTC ETF.

The Bitwise Bitcoin ETF (BITB) posted a cool $11.51 million in outflows, marking day three of its recent outflow streak. BITB has a cumulative net inflow of $2.09 billion.

BlackRock’s iShares Bitcoin Trust (IBIT) saw a rare day of outflows, shedding $13.75 million from its fund.

Fortunately, this is barely a drop in the ocean for the fund, which has, so far, seen $21.52 billion in cumulative net inflows. It is by far the top-performing BTC ETF on the market.

The Grayscale Bitcoin Trust (GBTC) saw a further $27.31 million in exits, bringing its cumulative net outflows to a painful $20.12 billion.

Finally, the ARK 21Shares Bitcoin ETF (ARKB) leads the losses, shedding $60.28 million from its fund.

A Staggering Victory

It’s a staggering result for the nascent spot crypto ETF asset class.

It was thought that there would be a solid appetite for BTC ETFs,  but no one could have quite anticipated the rate of their success.

Now, U.S. spot BTC ETFs command $55.85 billion worth of Bitcoin , which is currently 4.64% of its entire market cap.

However, by casting such a bright light on IBIT and FBTC, a shadow is cast over Grayscale’s GBTC, which, judging by its absurd $20.52 billion in outflows, makes it one of the worst-performing ETFs this decade.

With the hope of seeing Ethereum ETFs pick up pace and even Ripple (XRP) enter the ETF race , crypto funds will likely continue to be a resounding success.