Bitcoin, IBIT Trounce Stocks

Summary The iShares Bitcoin ETF has been the fastest-growing ETF of all time, eclipsing $70 billion in assets in less than 18 months and currently up to $85 billion. Compared to current S&P 500 stocks, IBIT’s gain of 156% since it launched on 1/11/24 would rank 12th in terms of performance. Bitcoin prices were in the mid-$10,000s back in November 2022. Since its low point during that month, Bitcoin is up 668%. The iShares Bitcoin ETF ( IBIT ) has been the fastest-growing ETF of all time, eclipsing $70 billion in assets in less than 18 months and currently up to $85 billion. That’s already big enough to rank it in the top 20 or so of the largest ” mega-ETFs ” in the US. Since its closing price on launch day back on January 11th, 2024, IBIT is up 156%. That compares to gains of 36% for the Nasdaq 100 ETF ( QQQ ) and 31% for the S&P 500 ETF ( SPY ). Compared to current S&P 500 stocks, IBIT’s gain of 156% since it launched on 1/11/24 would rank 12th in terms of performance. There are eleven stocks in the index up even more than that, led by Palantir’s ( PLTR ) gain of 794%. Other big winners since IBIT launched include Vistra ( VST ), Howmet Aerospace ( HWM ), Axon ( AXON ), NVIDIA ( NVDA ), Tapestry ( TPR ), Royal Caribbean ( RCL ), Coinbase ( COIN ), and Netflix ( NFLX ). There are 21 stocks in the S&P up more than 100% since IBIT’s launch in early 2024, while the average stock in the index is up 26.1%. Bitcoin prices were in the mid-$10,000s back in November 2022. Since its low point during that month, Bitcoin is up 668%. We also looked to see how that gain compares to the best-performing S&P 500 stocks over the same time frame. As shown below, just four stocks in the index are up more than Bitcoin since its 2022 low: Palantir — up nearly 2,000%, NVIDIA — up nearly 1,000%, Coinbase, and Vistra. Another four stocks are up more than 400% over the same time frame: Meta ( META ), Super Micro ( SMCI ), Royal Caribbean, and Broadcom ( AVGO ). Original Post Editor’s Note: The summary bullets for this article were chosen by Seeking Alpha editors.

Source: Seeking Alpha