Home›Crypto›Bitcoin›BlackRock’s iShares Bitcoin Trust edges Vanguard S&P 5…

BlackRock’s iShares Bitcoin Trust edges Vanguard S&P 500 ETF since launch

iShares Bitcoin Trust is up 71% since its January 2024 debut, and it manages $61.4 billion in assets, compared with the S&P 500 ETF’s 66% gain on a total return basis.

Reported · Written up by our desk · Bitcoin

BlackRock’s iShares Bitcoin Trust has delivered higher cumulative returns since its 2024 launch than Vanguard’s S&P 500 ETF, according to Bloomberg data highlighted by ETF analyst Eric Balchunas, as cited by Bitcoin Magazine.

Balchunas said the margin over the same period is narrow, with iShares Bitcoin Trust up 71% since its January 2024 debut versus Vanguard’s S&P 500 ETF up 66% on a total-return basis, the outlet reported.

Bitcoin Magazine also noted that the Securities and Exchange Commission approved spot bitcoin ETFs in 2024 after years of denials, allowing iShares Bitcoin Trust, or IBIT, to begin trading then.

The article further said iShares Bitcoin Trust currently manages $61.4 billion in assets, compared with about $11 billion for the second-largest bitcoin ETF, and that increased ETF inflows in August helped support bitcoin’s price, with investors putting more than $2.8 billion into the vehicles from August 17 to 27.

Latest closeBitcoin $77,351.59 ▼1.5%|S&P 500 7,631.47 ▼0.7%

More like this

Sources