Bitcoin ETF Adds To $23B Weekly Gain

'BITO' debut drew in assets, but good old broad equities dominated.

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Reviewed by: Dan Mika
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Edited by: Dan Mika

The ProShares Bitcoin Strategy ETF (BITO) garnered immense attention and more than $1 billion in assets as the first-ever bitcoin-linked exchange-traded product in the U.S. on its launch Tuesday.

But the week’s most remarkable ETF was the oldest one of them all.

U.S.-listed ETFs gained $22.6 billion in assets in the period between Oct. 15 and Oct. 22, according to data from ETF.com data provider FactSet. The industry has gained just under $692.2 billion in assets year-to-date, and currently has $6.9 trillion in assets under management.

S&P 500 Powers Gains

A slew of corporate earnings beats powered the major indexes to fresh highs on Thursday. The S&P 500 rose to a record-high close of 4,549 points, while the Dow Jones Industrial Average reached an intraday record of 37,562 points.

The SPDR S&P 500 ETF Trust (SPY) was the main beneficiary from the optimism, pulling in just under $3.2 billion in new assets and thoroughly outperforming the second-place BITO, which finished the period with $1.2 billion in inflows.

Other broad U.S. equity ETFs rounded out the top 10 gainers on the week. The Vanguard Total Stock Market ETF (VTI) pulled in just over $1 billion, while the Vanguard S&P 500 ETF (VOO) and the iShares Core S&P 500 ETF (IVV) gained $723 million and $720 million, respectively.

The optimism in broad markets wasn’t spread evenly. The iShares Russell 2000 Value ETF (IWN) took the second-largest outflow on the week with $741 million pulled, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) lost $335 million.

Mixed Bag On Sectors …

The Financial Select Sector SPDR Fund (XLF) gained almost $1.2 billion on the week as the prospect of a Fed rate hike next year continues to add optimism to an industry that’s outperformed earnings expectations.

However, the Health Care Select Sector SPDR Fund (XLV) and the Utilities Select Sector SPDR Fund (XLU) saw outflows of $396 million and $362 million, respectively. XLU likely saw some outflows because inflation is driving yield-focused investors to other sectors, despite continued upward pressure on oil and natural gas around the world.

The First Trust Capital Strength ETF (FTCS) posted an outflow of $1.36 billion on the week, but that is due to a heartbeat trade that began last Thursday.

... And In Fixed Income

Four fixed-income ETFs gained a combined $3.56 billion on the week, while three other bond funds contributed a net outflow of $1.34 billion from the asset class.

The iShares iBoxx USD High Yield Corporate Bond ETF (HYG) led fixed income fund gainers with $1.04 billion, while the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD), the SPDR Bloomberg Barclays High Yield Bond ETF (JNK) and the Vanguard Intermediate-Term Treasury Index ETF (VGIT) gained $985 million, $804 million and $742 million, respectively.

The iShares 3-7 Year Treasury Bond ETF (IEI) saw outflows of $531 million, likely due to increasing fears about inflation caused by continued pandemic disruptions. The Vanguard Intermediate-Term Corporate Bond ETF (VCIT) also $458 million, while the iShares 20+ Year Treasury Bond ETF (TLT) decreased by just under $352 million.

 

For a full list of this week’s top inflows and outflows, see the tables below:

 

Top 10 Creations (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust3,158.43407,887.610.77%
BITOProShares Bitcoin Strategy ETF1,203.461,283.5793.76%
XLFFinancial Select Sector SPDR Fund1,179.4645,774.602.58%
HYGiShares iBoxx USD High Yield Corporate Bond ETF1,035.9620,131.235.15%
VTIVanguard Total Stock Market ETF1,033.97279,038.980.37%
LQDiShares iBoxx USD Investment Grade Corporate Bond ETF985.2139,321.802.51%
JNKSPDR Bloomberg Barclays High Yield Bond ETF804.868,713.619.24%
VGITVanguard Intermediate-Term Treasury Index ETF742.979,034.138.22%
VOOVanguard S&P 500 ETF723.23262,175.560.28%
IVViShares Core S&P 500 ETF720.29302,734.340.24%

 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
FTCSFirst Trust Capital Strength ETF-1,361.118,622.06-15.79%
IWNiShares Russell 2000 Value ETF-741.0816,198.39-4.57%
IEIiShares 3-7 Year Treasury Bond ETF-531.8310,590.29-5.02%
VCITVanguard Intermediate-Term Corporate Bond ETF-458.0445,347.05-1.01%
XLVHealth Care Select Sector SPDR Fund-396.0930,324.16-1.31%
XLUUtilities Select Sector SPDR Fund-362.2112,247.99-2.96%
TLTiShares 20+ Year Treasury Bond ETF-351.7114,796.95-2.38%
TQQQProShares UltraPro QQQ-336.2817,377.08-1.94%
DIASPDR Dow Jones Industrial Average ETF Trust-335.6229,934.20-1.12%
IYRiShares U.S. Real Estate ETF-306.787,307.54-4.20%

 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity12,250.934,101,366.700.30%
International Equity3,443.951,322,631.460.26%
U.S. Fixed Income5,511.451,087,466.940.51%
International Fixed Income257.51148,425.030.17%
Commodities-497.28139,313.05-0.36%
Currency1,174.633,240.7736.25%
Leveraged-73.9470,328.55-0.11%
Inverse265.5812,733.342.09%
Asset Allocation70.8418,980.510.37%
Alternatives173.517,053.582.46%
Total:22,577.196,911,539.930.33%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity329,633.804,101,366.708.04%
International Equity179,807.001,322,631.4613.59%
U.S. Fixed Income138,719.711,087,466.9412.76%
International Fixed Income28,917.01148,425.0319.48%
Commodities-3,920.69139,313.05-2.81%
Currency1,285.493,240.7739.67%
Leveraged4,187.0270,328.555.95%
Inverse6,085.7012,733.3447.79%
Asset Allocation4,352.4918,980.5122.93%
Alternatives3,110.117,053.5844.09%
Total:692,177.656,911,539.9310.01%

 

Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
BKCHGlobal X Blockchain ETF10.11%669,22671.20
URNMNorth Shore Global Uranium Mining ETF8.74%1,637,373920.68
URAGlobal X Uranium ETF7.59%9,911,4931,412.33
DAPPVanEck Digital Transformation ETF7.56%258,56960.13
BITQBitwise Crypto Industry Innovators ETF7.45%594,92793.55
SATOInvesco Alerian Galaxy Crypto Economy ETF6.57%104,6928.56
KWEBKraneShares CSI China Internet ETF6.03%62,538,6079,062.11
RIGZViridi Cleaner Energy Crypto-Mining & Semiconductor ETF5.90%91,33212.53
JJNiPath Series B Bloomberg Nickel Subindex Total Return ETN5.77%50,14027.57
BDRYBreakwave Dry Bulk Shipping ETF5.69%1,570,917105.46

 

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
BDRYBreakwave Dry Bulk Shipping ETF384.55%5.69%105.46
URNMNorth Shore Global Uranium Mining ETF129.49%8.74%920.68
FCGFirst Trust Natural Gas ETF115.10%2.68%530.59
JJTiPath Series B Bloomberg Tin Subindex Total Return ETN113.34%2.73%18.71
PXEInvesco Dynamic Energy Exploration & Production ETF112.11%3.30%132.50
UNGUnited States Natural Gas Fund LP97.50%-3.56%474.58
PXIInvesco DWA Energy Momentum ETF93.93%1.86%97.43
URAGlobal X Uranium ETF93.38%7.59%1,412.33
GAZiPath Series B Bloomberg Natural Gas Subindex Total Return ETN92.82%-2.51%15.10
PSCEInvesco S&P SmallCap Energy ETF91.37%2.44%144.22

 

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.

Dan Mika is a reporter for etf.com. He has previously covered business for the Ames Tribune and Cedar Rapids Gazette in Iowa, and BizWest Media in Fort Collins, Colorado. Dan holds a bachelor's degree in journalism from Truman State University.