In a twist that could make even the most stoic accountant raise an eyebrow, new data from the illustrious (and possibly caffeine-fueled) Bloomberg analyst, Eric Balchunas, has revealed that US crypto ETFs have managed to outshine Vanguard’s legendary S&P 500 ETF in the month of July. Yes, you heard that right! The crypto kids are officially in the big leagues now.
In a riveting thread on the social media platform X (formerly known as Twitter, because why not?), Balchunas noted that US crypto ETFs raked in a jaw-dropping $12.8 billion in inflows last month. That’s right, folks, more than a small country’s GDP! This figure outpaced all other ETFs, including the mighty VOO, which is currently sitting pretty with $713.13 billion in assets. Talk about a David and Goliath story, if David had a really good financial advisor.
“US Crypto ETFs took in $12.8 billion in July, the best month ever, [at] a $600m/day pace, about double [the] average. As a group, that’s more than any single ETF did, including the Mighty VOO.”
“Further, every ETF in [the] category took in cash (except the converted trusts) with Bitcoin and Ether making equal contributions. Most all-around dominant performance since the Eagles ended the Chiefs in the Super Bowl. Will be hard to top.”
But wait, there’s more! The analyst went on to say that BlackRock’s iShares Bitcoin Trust ETF (IBIT) is not just doing well; it’s practically throwing a party and inviting all the new customers. 🎉
“Amazing stat: 75% of the investors who bought IBIT ($87 billion via one million people) were first-time customers of BlackRock. And 27% of them went on to buy another iShares ETF. Just a total coup for BLK all around.”
According to Balchunas, IBIT – which launched in January 2024 – has played a significant role in Bitcoin’s (BTC) meteoric rise over the last two years. It’s like the fairy godmother of cryptocurrency, waving its magic wand and making prices soar.
“1) ETFs hold BTC at a 1:1 ratio. There is no lending, there are no paper IOUs. ETFs are clean and above board, and every dime of AUM is connected to the proportional Bitcoin.”
“2) Zoom out: Bitcoin is up nearly 300%(!) since the infamous BlackRock filing two years ago. ETF flows are a big part of that.”
“3) From what I am hearing on here, the selling is annoyed OGs who don’t like that Wall St. and the government have adopted BTC. I guess they prefer BTC to have intermediaries like Sam Bankman-Fraud instead.”
As of this very moment, Bitcoin is trading at a cool $113,763, which is a 3.2% decrease on the day. Meanwhile, IBIT and VOO are valued at $64.27 and $572, respectively. So, if you’re looking for a rollercoaster ride, you’ve come to the right place!
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2025-08-02 20:02