Key Takeaways
- U.S. spot Bitcoin ETFs hold $105.4 billion in BTC or 5.7% of its market cap.
- Ethereum ETFs saw net inflows, signaling renewed institutional interest, with $12.1 billion in net assets.
- BlackRock and Fidelity funds dominate the ETF landscape, while smaller funds show niche appeal.
U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) ended 2024 with mixed results, reflecting mixed investor sentiment amid market fluctuations.
Bitcoin ETFs
According to SoSoValue data , Bitcoin ETFs experienced total net outflows of $5.3 million on Dec. 31.
The BTC ETF market displayed contrasting trends in inflows and outflows as of year-end.
BlackRock’s IBIT ETF, a dominant player, faced a single-day outflow of $23.5 million. However, it maintained a staggering $37.25 billion in cumulative inflows and a robust $51.72 billion in net assets, showcasing its widespread investor appeal despite daily fluctuations.
In contrast, Grayscale’s GBTC ETF continued to struggle, with cumulative outflows of $21.50 billion, overshadowing its $19.18 billion in net assets.
Fidelity’s FBTC ETF demonstrated resilience, attracting $36.8 million in single-day inflows, contributing to a cumulative inflow of $11.72 billion and positioning it among the leaders with $18.87 billion in net assets.
Meanwhile, Ark 21Shares’ ARKB ETF saw moderate activity, with $2.45 billion in cumulative inflows offset by a single-day outflow of $11.2 million, reflecting mixed investor sentiment.
Other funds, such as Bitwise’s BITB and Grayscale’s mini-trust (BTC), experienced varied results.
BITB added $8.68 million in daily inflows to reach $2.17 billion cumulatively, while Grayscale’s BTC achieved a positive $833.15 million in cumulative inflows, marking a bright spot with $3.56 billion in net assets.
Smaller ETFs like VanEck’s HODL and Valkyrie’s BRRR saw limited movement.
HODL maintained $790.6 million in cumulative inflows and $1.29 billion in net assets, while BRRR held steady at $514.2 million in inflows and $829.2 million in assets.
Ethereum ETFs
As per SoSoValue, Ethereum ETFs posted $35.9 million in total net inflows on Dec. 31, returning to positive figures after a one-day stop.
Institutional investors are slowly and steadily turning towards ETH funds.
As of Dec. 31, Grayscale’s ETHE and ETH products showcased significant activity. ETHE saw cumulative net outflows of $3.64 billion in 2024, contrasting sharply with its $4.74 billion in net assets.
Meanwhile, its ETH product managed a cumulative inflow of $601.04 million, bolstering its position with $1.58 billion in net assets.
BlackRock’s ETHA ETF maintained stability with a strong $3.52 billion in cumulative inflows.
Similarly, Fidelity’s FETH ETF recorded notable growth, with a daily inflow of $31.8 million.
In contrast, smaller funds like VanEck’s ETHV and Franklin’s EZET displayed limited movement.
Despite a cumulative net inflow of $127.79 million for ETHV and $37.65 million for EZET, both funds exhibited modest net asset levels of $147.0 million and $42 million, respectively.
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