To say that the spot bitcoin exchange traded funds (ETFs) exceeded expectations in their first year on the market is an understatement at best. Instead, it might be more accurate to say that they’ve shocked the industry to its core.
“Just how big was the first year for Bitcoin ETFs?” Bloomberg Intelligence ETF analyst James Seyffart wrote on X. “MASSIVE.”
BlackRock’s iShares Bitcoin Trust (IBIT) had the most successful launch in the history of U.S. ETFs, accumulating more than $52.3 billion worth of assets in its first year (a combination of large inflows and the sharp rise in the price of bitcoin), according to Seyffart.
Three of the other spot bitcoin ETFs, the Fidelity Wise Origin Bitcoin Fund (FBTC), the ARK 21Shares Bitcoin ETF (ARKB) and the Bitwise Bitcoin ETF (BITB) — were also among the top 20 U.S. ETF launches of all time.T
he last twelve months in crypto were “momentous,” said Matt Horne, head of digital asset strategists at Fidelity Investments.
Indeed, FBTC is the fund management giant's largest exchange-traded product at nearly $19 billion in assets under management, according to the company website.
