The U.S. financial markets hit a milestone with four spot Bitcoin exchange-traded funds (ETFs) now ranked among the top 20 ETF launches of all time. These ETFs debuted following the U.S. Securities and Exchange Commission’s (SEC) groundbreaking approval, which marked a significant shift in the crypto industry.
Key Highlights
- Historic Approval and Launch:
- On January 10, 2024, the SEC approved 11 spot Bitcoin ETFs, allowing them to list on U.S. exchanges.
- The approval came as Bitcoin surged to an all-time high of over $100,000 in March 2024, before experiencing a correction.
- Record-Breaking Performance:
- BlackRock’s iShares Bitcoin Trust (IBIT) surpassed $50 billion in assets under management (AUM) within a year, dwarfing its gold ETF, which took nearly two decades to cross $30 billion.
- Fidelity’s Wise Origin Bitcoin Fund (FBTC), Ark/21Shares Bitcoin ETF (ARKB), and Bitwise’s Bitcoin ETF (BITB) also achieved historic rankings, placing 4th, 16th, and 18th among U.S. ETF launches.
- Massive Industry Growth:
- Collectively, U.S. spot Bitcoin ETFs now hold over $106 billion in net assets, representing 5.74% of Bitcoin’s total market capitalization as of January 9, 2025.
Top ETF Performers
- BlackRock’s iShares Bitcoin Trust (IBIT): Ranked #1 among U.S. ETF launches with over $50 billion in AUM.
- Fidelity’s Wise Origin Bitcoin Fund (FBTC): Secured the 4th spot.
- Ark/21Shares Bitcoin ETF (ARKB): Ranked 16th.
- Bitwise’s Bitcoin ETF (BITB): Positioned at 18th.
Smaller Players Making a Mark
Even relatively smaller issuers, such as ARK/21Shares and Bitwise, achieved remarkable success. Both ETFs, with approximately $4 billion in AUM each, entered the top 20 ETF launches of all time.
Bloomberg ETF analyst James Seyffart emphasized the significance of these milestones, noting: “Even if you inflation-adjust the assets, four Bitcoin ETFs rank among the top 20 U.S. ETF launches ever. That’s massive.”
Broader Landscape
Other spot Bitcoin ETFs also contributed to the market’s rapid expansion, including:
- VanEck’s HODL (Ranked 99th)
- CoinShares Valkyrie’s BRRR (Ranked 162nd)
- Invesco Galaxy’s BTCO (Ranked 196th)
- Franklin Templeton’s EZBC (Ranked 199th)
- WisdomTree’s BTCW (Ranked 384th)
The Future of Bitcoin ETFs
The success of these ETFs highlights increasing investor demand for Bitcoin exposure through regulated financial products. With Bitcoin ETFs accounting for a significant portion of the cryptocurrency’s market capitalization, the stage is set for further innovation and growth in the crypto-ETF space.
As the industry celebrates these achievements, all eyes are on what’s next for Bitcoin ETFs and the broader crypto market.
