The BlackRock Bitcoin ETF has outperformed the Vanguard S&P 500 Fund since its listing

According to data from Bloomberg and BlackRock senior ETF analyst Eric Balchunas, posted on the X platform on September 1, BlackRock's iShares Bitcoin Trust (IBIT) has achieved a cumulative return of 71% since its listing in January 2024, outperforming Vanguard's S&P 500 Index Fund (VOO), which had a total return of 66% during the same period. Balchunas described the upward trajectory of IBIT as a roller coaster ride, while the performance of VOO was much steadier in comparison.

In 2024, the U.S. Securities and Exchange Commission approved 11 spot Bitcoin ETFs after a decade of rejections, and IBIT began trading that year. Currently, IBIT manages assets of $61.4 billion, making it the largest Bitcoin ETF; the second-largest, Fidelity's Wise Origin Bitcoin Fund, manages nearly $11 billion. BlackRock, which manages over $15 trillion in assets, shook the crypto market after submitting its application for a spot Bitcoin ETF in 2023, providing traditional investors with exposure to Bitcoin and showing higher daily trading activity than other similar ETFs.

On the funding side, investors poured back into ETFs in August, with a total investment of over $2.8 billion from August 17 to 27, marking the highest level since Bitcoin reached an all-time high last October. Bitcoin briefly rose to $81,281 last Monday, then fell back on Friday, closing at $77,539, with a 24-hour decline of nearly 1%; Bitcoin has risen nearly 30% over the past month.