The iShares Bitcoin (IBIT) ETF by BlackRock succeeded in registering the fastest growth in the history of Exchange-Traded Funds (ETFs) in 2024. Within 11 months, this fund attracted over $50 billion in assets, setting a new record for ETF performance across all asset classes. With an annual expense ratio of 0.25%, it generates approximately $112 million in annual income, making it highly attractive to institutional and retail investors. However, IBIT also experienced its largest capital outflow recently, reaching $188.7 million, doubling the previous record of $72.7 million. This capital outflow coincided with a $1.5 billion outflow from Bitcoin ETFs in the US over four days. IBIT played a key role in the 118% price growth of Bitcoin in 2024, surpassing the $100,000 mark. The fund now accounts for over 50% of the daily trading volume of all Bitcoin ETFs in the US and has only witnessed capital outflow in 9 days since inception. Overall, 2024 was a remarkable year for crypto ETFs; four Bitcoin ETFs, two Ethereum ETFs, and two Microstrategy ETFs were among the top eight funds in terms of capital attraction. Additionally, the Ethereum ETF by BlackRock led the way among Ethereum-related funds by attracting $349 million. The total net asset value of Bitcoin ETFs in the US reached $106.683 billion, indicating growing acceptance of crypto as an investment tool. Meanwhile, reports from Matrixport suggest the possibility of price fluctuations and corrections as the new year approaches. You can track the live prices of all tokens and cryptocurrencies on the real-time digital currency price page.
