Spot bitcoin ETF investors may have proven to be anything but momentum chasers this year.
While it’s no secret that BlackRock’s iShares Bitcoin Trust (IBIT) has been a huge success since it opened its doors in January 2024, data compiled by top Bloomberg ETF analyst Eric Balchunas shows that success from another perspective.
So far in 2025, IBIT ranks sixth among all ETFs for inflows, bringing more than $25 billion in cash to investors. In a list of the top 25 funds by inflows, Vanguard’s S&P 500 ETF (VOO) is No. 1 with $145 billion, and iShares S&P 100 ETF (OEF) is No. 25 with $10 billion.
Of the entire Top 25 list, Balchunas noted, IBIT is the only one with a negative performance for the year: down 9.6% as of midday Friday. Even the SPDR Gold ETF (GLD), which ranks eighth with $20.8 billion, raised less money than IBIT despite showing a whopping 65% advance in 2025.
“Crypto Twitter’s knee-jerk reaction is to complain about the [BTC] return,” Balchunas said. “But the real bottom line is that he ranked sixth DESPITE the negative return (boomers host HODL clinic).”
“That’s a very good sign in the long term,” he continued. “If you can make $25 billion in a bad year, imagine the potential flow in a good year.”
