BlackRock’s Bitcoin ETF Outperforms Vanguard S&P 500 Fund Since Its 2024 Launch

ChainCatcher report: According to Bloomberg data and a post by BlackRock senior ETF analyst Eric Balchunas on X on September 1, BlackRock’s iShares Bitcoin Trust (IBIT) has generated a cumulative return of 71% since its listing in January 2024, outperforming Vanguard’s S&P 500 ETF (VOO), which posted a total return of 66% over the same period. Balchunas described IBIT’s price movement as highly volatile, akin to a rollercoaster, while VOO’s trajectory has been significantly more stable. In 2024, after a decade of rejections, the U.S. Securities and Exchange Commission approved 11 spot Bitcoin ETFs, with IBIT commencing trading that year. IBIT currently manages $61.4 billion in assets, making it the largest Bitcoin ETF; Fidelity’s Wise Origin Bitcoin Fund ranks second with nearly $11 billion in assets. BlackRock, which manages over $1.5 trillion in assets, sent shockwaves through the crypto market when it filed its spot Bitcoin ETF application in 2023. Its product provides traditional investors with direct exposure to Bitcoin and exhibits higher daily trading volume than other comparable ETFs. On the funding front, investors returned to ETFs in August, injecting over $2.8 billion between August 17 and 27—the highest level since Bitcoin hit its all-time high in October last year. Bitcoin rose to $81,281 last week before pulling back on Friday; it is currently trading at $77,539, down nearly 1% over the past 24 hours. Over the past month, Bitcoin has risen approximately 30%.