The global ETF market in 2025 continues its hot streak. According to the latest data from Bloomberg ETF analyst Eric Balchunas, the annual net inflow of global ETFs has hit a record high of $1.48 trillion, an increase of about 28% compared to the high in 2024, with an average daily inflow of nearly $6 billion.

However, amidst this boom, many funds have not performed as well. For example, BlackRock's Bitcoin Spot ETF (IBIT) has an asset management scale of approximately $248.44 billion, ranking sixth among the world's largest ETFs. But due to the overall poor performance of Bitcoin last year, this fund became the only product among the top 15 ETFs to record a negative return, with an annual return of -6.41%. This also reflects the volatility of the cryptocurrency market last year and the complex changes in investor sentiment.