BlackRock's iShares Bitcoin Trust Leads US Bitcoin ETF Market over Fidelity's FBTC

BlackRock launched the iShares Bitcoin Trust (IBIT) on 11 January 2024. It now holds roughly $48 billion in assets, representing about 61 % of all US Bitcoin‑ETF assets, and has attracted $62 billion in cumulative inflows. The fund charges a 0.25 % expense ratio and closed at $35 on 18 June, down about 50 % from its 52‑week high; one‑year returns are negative (‑18 %) though investors who held since launch have a 21 % gain.

Fidelity’s Fidelity Wise Origin Bitcoin Fund (FBTC), launched the same day, is the second‑largest Bitcoin ETF with about $11.3 billion in assets and $10.5 billion of net inflows. It also carries a 0.25 % fee and closed at $54 on 18 June, roughly a 51 % decline from its 52‑week peak. Its one‑year performance shows a larger loss (‑30 %) but, like IBIT, holders from inception have a 21 % return.

Both ETFs track Bitcoin directly, share identical fees, and exhibit similar technical signals (RSI around 35). Analysts note that potential approval of the CLARITY Act could boost institutional inflows into Bitcoin ETFs, potentially widening the gap between IBIT and FBTC.