BlackRock’s iShares Bitcoin Trust (IBIT) has outperformed Vanguard’s S&P 500 ETF (VOO) since inception, according to a market commentary comparing total returns. The gap remains narrow, but the comparison highlights stronger headline gains for IBIT over the period discussed. The move came with significantly higher volatility for IBIT, which was described as a much more turbulent path to roughly 70% returns, while VOO delivered steadier performance. The comparison was noted as surprising given the broader market narrative from October through July.