New Data Shows US Crypto ETFs Outperform Vanguard’s S&P 500 ETF in July
Recent data from senior Bloomberg analyst Eric Balchunas has unveiled that US crypto ETFs (exchange-traded funds) surpassed Vanguard’s renowned S&P 500 ETF (VOO) in terms of performance in July.
In a thread on the social media platform X, Balchunas highlighted that US crypto ETFs attracted a remarkable $12.8 billion worth of inflows in July, outpacing all other ETFs, including VOO, which currently manages $713.13 billion in assets.
Balchunas emphasized that BlackRock’s iShares Bitcoin Trust ETF (IBIT) is performing well and attracting new investors, with 75% of IBIT investors being first-time customers of BlackRock.
According to Balchunas, IBIT, which was launched in January 2024, played a significant role in the massive price growth of Bitcoin over the last two years.
Bitcoin is currently trading at $113,763, experiencing a 3.2% decrease, while IBIT and VOO are valued at $64.27 and $572, respectively.
Key Points:
- US crypto ETFs attracted $12.8 billion in inflows in July, outperforming VOO.
- IBIT attracted new investors, with 75% being first-time customers of BlackRock.
- Bitcoin’s price growth over the last two years was influenced by IBIT.
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