BlackRock's iShares Bitcoin Trust (IBIT) has surpassed the SPLG S&P 500 tracker in year-to-date inflows for 2025, attracting over $13.75 billion compared to SPLG's $13.74 billion. This development underscores a significant shift in investment trends, with institutional investors increasingly favoring regulated crypto products. Despite being only 18 months old, IBIT ranks fifth in cumulative three-year flows, while Vanguard's VOO leads with nearly $82 billion in inflows this year. Analyst Eric Balchunas highlights IBIT's rapid growth, suggesting it could soon dominate the market.