US spot Bitcoin and Ether ETFs See $38.3B inflows in 2024

The United States saw substantial growth in its spot Bitcoin (CRYPTO:BTC) and Ether (CRYPTO:ETH) exchange-traded funds (ETFs) during their launch year, with total net inflows of $38.3 billion in 2024.

Bitcoin ETFs led the way with $35.66 billion in net inflows, surpassing early expectations from industry analysts.

The top performer was BlackRock's iShares Bitcoin Trust ETF (IBIT), which garnered $37.31 billion.

Following IBIT were Fidelity's Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB), which received $11.84 billion and $2.49 billion in net inflows, respectively.

The Bitwise Bitcoin ETF (BITB) saw $2.19 billion.

Despite a strong start, Bitcoin ETFs experienced a decline toward the end of the year, with $1.33 billion in outflows since December 19.

Five of the last six trading days recorded net outflows, with IBIT seeing its largest outflow of $188.7 million on December 24.

Retail investors drove around 80% of the demand for Bitcoin ETFs, with institutions yet to take the lead.

However, analysts, including Bitwise’s CIO Matt Hougan, expect more institutional participation in 2025, particularly with the launch of additional clearinghouses for spot Bitcoin ETF trading.

Meanwhile, spot Ether ETFs saw a total of $2.68 billion in net inflows since their launch on July 23.

The iShares Ethereum Trust ETF (ETHA) and Fidelity Ethereum Fund (FETH) led with $3.52 billion and $1.56 billion, respectively.

Despite underperforming Bitcoin and Solana in 2024, Bitwise projects a strong rebound for Ether in 2025, with a possible price of $7,000, driven by increased activity on Ethereum layer 2s and the growth of stablecoins and real-world asset tokenisation.

At the time of reporting, the Bitcoin price was $93,367.34 and the Ethereum price was $3,400.58.