Spot Bitcoin ETF investors may have been anything but momentum chasers this year.
While it’s no secret that BlackRock’s iShares Bitcoin Trust (IBIT) has been wildly successful since it opened in January 2024, data compiled by Bloomberg ETF analyst Eric Balchunas shows that success in a different light.
So far in 2025, IBIT ranks sixth among all ETFs in terms of inflows, generating over $25 billion in liquidity for investors. In a list of the top 25 funds by inflows, first is Vanguard’s S&P 500 ETF (VOO) with $145 billion, and 25th is the iShares S&P 100 ETF (OEF) with $10 billion.
Of the entire top 25 list, Balchunas noted, IBIT is the only one with a negative return for the year – down 9.6% as of midday Friday. Even the SPDR Gold ETF (GLD) – eighth with $20.8 billion – took in less money than the IBIT despite a massive 65% gain in 2025.
“Crypto Twitter’s knee-jerk reaction is to complain about [BTC] back,” Balchunas said. “But the real takeaway is that he was 6th place DESPITE the negative feedback (boomers are putting on an HODL clinic).”
“It’s a very good sign in the long term,” he continued. “If you can make $25 billion in a bad year, imagine the flow potential in a good year.”
