BlackRock’s spot Bitcoin ETF has hit a notable performance milestone even as daily flows across U.S. spot Bitcoin ETFs turned negative. According to Bloomberg senior ETF analyst Eric Balchunas, the iShares Bitcoin Trust (IBIT) delivered a total return of 71.34% from its January 2024 launch through early September 2026. That edged out Vanguard’s S&P 500 ETF (VOO), which returned 66.06% over the same period, a gap of 5.28 percentage points. On an annualized basis, IBIT returned 22.62% versus 21.17% for VOO.
Balchunas described IBIT’s path as a “roller coaster,” and noted surprise at the lead given challenging market conditions from October through July. The comparison underscores how a volatile digital asset can compete with established equity benchmarks over a short horizon, reflecting growing institutional acceptance of Bitcoin as an investable asset.
However, September 1 brought a shift in ETF flow sentiment. U.S. spot Bitcoin ETFs recorded a net outflow of $35.29 million, reversing the prior day’s modest inflows, according to SoSoValue data. Fidelity’s Wise Origin Bitcoin Fund (FBTC) led withdrawals with a $43.67 million single-day outflow. Bitwise Bitcoin ETF (BITB) bucked the trend with an $8.38 million inflow, while BlackRock’s IBIT and ARK 21Shares Bitcoin ETF (ARKB) saw no significant net flows. The mixed moves point to selective rebalancing among institutional and retail participants, with some investors de-risking ahead of economic data or regulatory developments while others continue to accumulate.
