New data from Senior Bloomberg analyst Eric Balchunas reveal that American crypto ETFs (Exchange-Trade Funds) are beating Vanguard’s renowned S&P 500 ETF (VOO) in July.
In a new thread on the social media platform X, Balchunas notes That American crypto ETFs had a stunning $ 12.8 billion in inflow into July, surpassed all other ETFs, including VOO, which currently has $ 713.13 billion assets under management.
“US crypto ETFs received $ 12.8 billion in July, the best month ever, [at] A pace of $ 600 million/day, about double [the] average. As a group that is more than every ETF, including the powerful VOO.
Further, every ETF in [the] Category Nam cash (ex the converted trusts) w/ bitcoin and ether on equal contributions. Most all-round dominant performance since the Eagles ended the chiefs in the Super Bowl. Will be hard to be top. “
The analyst continues public participation That Asset Management Titan BlackRock’s Ishares Bitcoin Trust ETF (IBIT) is doing well and accepts new customers.
“Amazing stat: 75% of the investors Ibit bought ($ 87 billion through a million people) were for the first time BlackRock customers. And 27% of them continued to buy another Ishares ETF. Only a total coup for BLK around.”
According to Balchunas, IBIT – which was launched in January 2024 – had a Significant hand In the massive price growth of Bitcoin (BTC) in the past two years.
“1) ETFs hold BTC against a ratio of 1: 1. There is no loans, there is no paper IOUS. ETFs are clean and above the board and each dime of AUM is connected to the proportional bitcoin.
2) Zooming out: Bitcoin has risen almost 300%(!) Since the notorious BlackRock application two years ago. ETF flows a large part of that.
3) What I hear here is the sale irritated OGs who does not like that Wall St. and the government, BTC has taken over. I think they prefer BTC to have intermediaries such as Sam Bankman fraud instead. “
Bitcoin acts for $ 113,763 at the time of writing, a decrease of 3.2% in the day, while IBIT and VOO are appreciated at $ 64.27 and $ 572 respectively.
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