Cryptocurrencies
BlackRock and Fidelity Capitalize on FOMO From Bitcoin ETF Mania
- Nearly half of all Bitcoin ETF inflows have gone to BlackRock
- Some smaller funds undercut big players’ market-leading fees
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Bitcoin’s blistering rally produced record inflows into spot Bitcoin ETFs — and cemented the investor favorites in this new asset class.
BlackRock Inc.’s iShares Bitcoin Trust (IBIT) and Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC) have captured 79% of total inflows into the “Newborn Nine” — a popular name for the group of new exchange-traded funds that invest directly in Bitcoin — since the US Securities and Exchange Commission approved the assets Jan. 10.