Live Markets: BlackRock and Fidelity bitcoin ETFs among most popular in Q1

The Brink's

24/04/2024 16:26

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    BLACKROCK and FIDELITY BITCOIN ETFS AMONG MOST POPULAR IN Q1
    
    Two of the nine U.S. spot bitcoin ETFs launched this year
elbowed their way onto the list of top ten funds to attract
largest net flows globally, showing strong demand for crypto.
    IShares Bitcoin Trust ETF  IBIT.O  and Fidelity Wise Origin
Bitcoin ETF  FBTC.K  attracted about $14 billion and $7.56
billion, respectively in the first quarter of 2024, joining a
group that is typically dominated by the largest funds, most of
which are passive equity funds based in the United States,
Morningstar's Global Asset Flows report showed.
    Bitcoin  BTC=  hit a record high of $73,803 in March helped
by new demand created by the ETFs, many analysts said.
    The nine new spot bitcoin ETFs gathered $27 billion in their
debut quarter, closing it with $35 billion in assets, according
to the report. 
    "The quick success of these vehicles has catalyzed interest
in offering similar vehicles in developed markets everywhere,
though Canadian and Brazilian investors already had access to
spot bitcoin ETFs," said Morningstar Senior Product Manager Syl
Flood said.

    Here is Morningstar's list of the funds with largest inflows
in Q1:
    
 No  Name                         Q1 net inflows   Assets as of
                                                   March 31
 1.  Vanguard 500 index           $28.99 billion   $1.11
                                                   trillion
 2.  IShares Bitcoin Trust        $13.98 billion   $17.74
                                                   billion
 3.  Vanguard Bond Market II      $13.83 billion   $283.87
     Index                                         billion
 4.  iShares Core S&P 500 ETF     $12.92 billion   $454.64
                                                   billion
 5.  Fidelity 500 Index           $11.78 billion   $534.04
                                                   billion
 6.  Invesco QQQ Trust            $9.97 billion    $259.27
                                                   billion
 7.  Strategic Advisers Fidelity  $8.12 billion    $112.46
     US Total Stk                                  billion
 8.  PIMCO Income                 $8.03 billion    $147.18
                                                   billion
 9.  Fidelity Wise Origin         $7.56 billion    $10.18
     Bitcoin ETF                                   billion
 10  Vanguard Total Bond Market   $7.10 billion    $115.15
     Index                                         billion
 
    (Medha Singh)
    *****
    
    
    FOR WEDNESDAY'S EARLIER LIVE MARKET POSTS:
    
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    EUROPE EYES HIGHER START AS EARNINGS KICK INTO HIGH GEAR -
CLICK HERE
    
    YEN ON THE BRINK, BUT TESLA PULLS BACK  - CLICK HERE 


 
    
    
    
    
    
    

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