Bitcoin: BlackRock’s ETF Now Outperforms Vanguard’s Giant
Since January 2024, the IBIT Bitcoin ETF has gained 71%, compared with 66% for the Vanguard S&P 500. BlackRock now manages roughly $60 billion.
BlackRock’s Bitcoin ETF has just crossed a rather unexpected milestone. Since its launch in January 2024, IBIT has posted roughly 71% in cumulative performance, compared with 66% for the Vanguard S&P 500 ETF over the same period. Bitcoin has therefore edged ahead of one of the most iconic products in US passive investing—although the journey has been far more turbulent.
Bitcoin has outperformed the S&P 500 since 2024
According to Bloomberg data cited by senior ETF analyst Eric Balchunas, BlackRock’s iShares Bitcoin Trust has maintained an advantage of roughly five points over VOO since launch.
The performance takes on another dimension when looking at IBIT’s journey since arriving on Wall Street. The Bitcoin ETF did not yet exist at the beginning of January 2024. Today, BlackRock manages roughly $60 billion in the product.
Vanguard is obviously in a different category in terms of size. Its S&P 500 ETF, launched in 2010, managed nearly $997 billion at the end of July 2026 and holds more than 500 major US companies.
IBIT has just one underlying asset: Bitcoin.
And yet, over this specific period, it is ahead.
The comparison must nevertheless remain fair. VOO has delivered a much steadier ride. Bitcoin went through several sharp corrections before reaching its 71% gain.
IBIT already weighs in at $60 billion
BlackRock has not merely benefited from BTC’s rise. In less than three years, it has built one of the most closely watched ETFs in the US market.
As of September 1, IBIT’s official fact sheet published by BlackRock showed approximately $60.2 billion in net assets. Fidelity, the segment’s second-largest player according to Bitcoin Magazine, remained far behind with nearly $11 billion.
Inflows also returned sharply in August. Between August 17 and 27, more than $2.8 billion reportedly flowed back into US Bitcoin ETFs, their strongest stretch since October 2025.
This institutional demand is accompanying BTC’s rebound, which briefly topped $81,000 at the end of August.
More broadly, it follows a trend that was already visible when BlackRock identified US debt as a potential driver for Bitcoin: the asset is no longer being compared only with other cryptocurrencies. Wall Street is beginning to measure it directly against traditional stocks, bonds and indices.
Vanguard remains far less risky
Saying that IBIT “beats” Vanguard therefore requires an important qualification.
In terms of cumulative performance since January 2024, yes. In terms of investor comfort, certainly not.
Eric Balchunas himself compares IBIT’s performance to a roller coaster, while VOO looks more like a leisurely stroll. Bitcoin can gain more over certain periods because it can also lose much more quickly.
The contrast is still visible in 2026. Despite its excellent performance since launch, IBIT was showing a negative year-to-date performance at the end of August, while VOO had gained more than 13% since January.
That is precisely what makes the comparison interesting. Bitcoin has not replaced the S&P 500. It has simply shown that a product launched less than three years ago can already rival, in performance, the historic benchmark of US savings.
And capital continues to flow in as Bitcoin now seeks to consolidate its rebound after an August that delivered nearly +25%.
À propos de l’auteur
Lydie Musekwa
Lydie Musekwa, enseignante chercheuse passionnée par les nouvelles technologies, plonge dans l'univers des cryptomonnaies avec un regard analytique et innovant. Depuis sa découverte du bitcoin, son parcours s'est orienté vers une exploration exhaustive de la blockchain et de ses applications. Armée d'un esprit critique et d'une soif d'apprendre, elle s'attache à démystifier les concepts technologiques complexes pour ses lecteurs, tout en scrutant les dernières tendances et avancées. En tant que rédactrice, Lydie s'engage à partager des connaissances précises et à jour, faisant le pont entre le monde académique et la sphère digitale en constante évolution.
