BlackRock's IBIT Tops Vanguard's VOO on Returns Since January 2024 Debut

BlackRock's iShares Bitcoin Trust (IBIT) has delivered a 71% cumulative gain since it began trading in January 2024, surpassing the 66% total return of Vanguard's S&P 500 ETF (VOO) over the same period, according to Bloomberg data cited by BlackRock senior ETF analyst Eric Balchunas in a September 1 post on X. Balchunas said IBIT has traded with pronounced, "rollercoaster" volatility, while VOO has followed a much steadier path. The comparison comes after the U.S. Securities and Exchange Commission approved 11 spot Bitcoin ETFs in 2024 following years of rejected proposals. IBIT has since grown to $61.4 billion in assets under management, the largest in the category. Fidelity's Wise Origin Bitcoin Fund is second with nearly $11 billion. BlackRock's entry into the race in 2023 reverberated across crypto markets. The firm, which manages more than $1.5 trillion, positioned IBIT as a way for traditional investors to gain direct Bitcoin exposure, and the fund has consistently posted higher daily trading volume than comparable ETFs. Flows strengthened in August, with more than $2.8 billion pouring into ETFs between August 17 and 27, the biggest stretch of inflows since Bitcoin last set an all-time high in October of last year. Bitcoin climbed to $81,281 last week before retreating on Friday. It was last trading at $77,539, down nearly 1% over the past 24 hours, and up about 30% over the past month.