Almost 40% of This Year’s Top 50 ETFs Are Focused on Cryptocurrency

Cryptocurrency-related exchange-traded funds (ETFs) now make up almost 40% of the top 50 best-performing ETFs launched in 2024.

The surge is an indicator of the growing interest in digital assets, positioning such products as key parts of the investment space.

Crypto ETFs Leading the Charge

According to data shared by ETF expert Nate Geraci in a November 12 post on X, 19 out of 610 funds launched this year are directly tied to Bitcoin (BTC), Ethereum (ETH), or companies like MicroStrategy that boast huge crypto holdings. This impressive count includes 12 of the top 20 products, with those crypto ETFs pulling in billions of dollars.

Leading the pack, BlackRock’s iShares Bitcoin Trust (IBIT) registered an eye-watering $24.7 billion in year-to-date (YTD) inflows. It was followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) in second place and the ARK 21Shares ARKB fund in third. FBTC had a net YTD of $10.75 billion, with ARKB attaining a more modest $2.6 billion.

The first non-crypto fund was the fourth-placed PGIM Ultra Short Municipal Bond ETF, which has attracted nearly $2.47 billion in year-to-date flows.

Bitwise’s BITB rounds the top five best-performing ETFs, having managed inflows north of $2.3 billion since the beginning of the year. It is followed in sixth place by the first Ethereum ETF on the list, BlackRock’s iShares Ethereum Trust (ETHA), which has accumulated more than $1.4 billion worth of deposits since its launch in July.

Four other ETH-based exchange-traded funds are in the top 50, reflecting the asset’s steady appeal to investors despite the products’ relatively recent entry into the market. They include the 17th-placed Fidelity Ethereum Trust (FETH), Bitwise’s ETHW, which ranks #29 on the list, and Grayscale’s Ethereum Mini Trust ETF (ETH), which occupies the 31st spot. Altogether, these products have registered flows exceeding $2.8 billion so far.

MicroStrategy Making Inroads in ETF Offerings

The overall value of crypto-related ETFs has also been bolstered by several MicroStrategy-linked funds, including the YieldMax MSTR Option Income Strategy with more than $750 million on its books, and the T-Rex 2X Long MSTR Daily Target ETF, valued at more than $534 million.

MicroStrategy is the world’s largest corporate holder of Bitcoin, with more than 279,000 BTC, currently worth about $24 billion.

Beyond the big names, smaller but impactful ETFs like the VanEck Bitcoin ETF (HODL), the ProShares Ultra Bitcoin ETF (BITU), and the Coinshares Valkyrie offering, BRRR, have also gained traction. They have drawn $710 million, $696 million, and $551 million, respectively, performing better than many mainstream financial products, including Vanguard’s California Tax-Exempt Bond fund.