Spot Bitcoin ETFs One Year After US Launch: Here’s How Funds Have Fared So Far
Spot Bitcoin exchange-traded funds (ETFs) launched in the United States on January 11, 2024, marking a significant milestone for the cryptocurrency market. These ETFs have driven Bitcoin's price growth, contributing to its rise above $100,000 and becoming the largest holders of Bitcoin. The US Securities and Exchange Commission (SEC) approved the first 11 Spot Bitcoin ETF applications on January 10, 2024, after years of resistance. All ETFs, except Grayscale’s GBTC, showed positive performance in their first year, with record trading volumes. BlackRock’s iShares Bitcoin Trust and Fidelity’s Fidelity Wise Origin Bitcoin Fund led with over $3 billion in inflows each within 20 days. US-based Spot Bitcoin ETFs now control approximately $107.64 billion in assets, representing 5.75% of the total Bitcoin market cap, with cumulative net inflows of $36.22 billion. The IBIT has the highest inflow at $37.67 billion. Optimism remains for future growth as investors anticipate favorable policies from the incoming Trump administration. Bitcoin is currently trading at $94,057.
