Key Takeaways
- U.S. spot Bitcoin ETFs command $106.68 billion in BTC or 5.7% of its market cap.
- Ripple (XRP), Solana (SOL), Litecoin (LTC), and other altcoin ETFs are pending approval in 2025.
- U.S. spot Ethereum ETFs now hold $12.11 billion in net assets or 3.01% of ETH’s market cap.
U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) may be switching roles as ETH funds look to end 2024 on an inflow high, and BTC ETFs are on track for even more outflows.
Bitcoin ETFs
As per data from SoSoValue, Bitcoin ETFs have retreated from their historical inflow run, shedding $297.75 million in total net outflows on Dec. 27.
This marks the first week of net outflows for the first time in December, though only the second week since Oct. 11.
BlackRock’s iShares Bitcoin Trust (IBIT) bagged $79.44 million, bringing its cumulative net inflows to $37.31 billion.
At present, IBIT commands $52.15 billion in net assets, or 2.78% of BTC’s market cap.
Surprisingly, the Grayscale Bitcoin Trust (GBTC) has seen a rare day of inflows, pulling a very modest $3.75 million.
Unfortunately, this does little to reverse any of the damage done by its near-unstoppable exits.
GBTC has seen $21.35 billion in cumulative net outflows and dwindling net assets, which total $19.54 billion.
As for outflows, Fidelity’s Wise Origin Bitcoin Fund (FBTC) took the biggest hit, shedding $208.2 million in net outflows.
That said, it is the second-best performing BTC ETF with $11.84 billion in cumulative net inflows.
With $19.14 billion in net assets, FBTC is also looking to overtake GBTC, which currently ranks second for net assets.
The ARK 21Shares Bitcoin ETF (ARKB) also saw sizeable exits, shedding $112.59 million.
The Bitwise Bitcoin ETF (BITB) shed $35.98 million, followed by the Invesco Galaxy Bitcoin ETF (BTCO), which posted $14.15 million in exits. Finally, Valkyrie’s Bitcoin Fund (BRRR) outflows totaled $10.02 million.
Ethereum ETFs
As per SoSoValue, Ethereum ETFs posted $47.77 million in total net inflows on Dec. 27, marking day four of a renewed inflow streak and week five of a historical inflow run.
Institutional investors are slowly and steadily turning towards ETH funds.
Just two funds saw inflows, whilst all others were neutral.
Fidelity’s Ethereum Fund (FETH), the second-best-performing fund by cumulative inflows, bagged a sturdy $27.54 million, raising its cumulative net inflows and net assets to $1.56 billion.
BlackRock’s iShares Ethereum Trust (ETHA) follows closely behind, with a humble $20.23 million in net inflows.
With a cumulative net inflow of $3.52 billion and net assets totaling $3.58 billion, BlackRock maintains dominance in the spot crypto ETF market.
Ethereum ETFs have performed exceptionally well in the final weeks of 2024.
The week ending Dec. 27 pulled in $349.17 in weekly total net inflows, and the record-setting five-week winning streak has seen $2.56 billion in net inflows since Nov. 29.
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