Update (Dec. 30, 11:25pm UTC):
This article has been updated to reflect the latest information on spot Bitcoin ETF flow data for 2024.
United States Spot Bitcoin and Ether Exchange-Traded Funds (ETFs) Set to Close Year with Record-Breaking Inflows
As we approach the end of 2024, it’s becoming increasingly clear that United States spot Bitcoin and Ether exchange-traded funds are set to close the year with a staggering inflow tally. With just two trading days left in the year, these ETFs have clocked an impressive $38.3 billion in net inflows.
Top Performers: BlackRock’s iShares Bitcoin Trust ETF (IBIT) Leads the Pack
BlackRock’s iShares Bitcoin Trust ETF (IBIT) takes the top spot with a whopping $37.31 billion in net inflows, followed closely by the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB), which have recorded $11.84 billion and $2.49 billion in net inflows, respectively.
Bitwise Bitcoin ETF (BITB) Rounds Out Top Three
The Bitwise Bitcoin ETF (BITB) completes the top three with a notable $2.19 billion in net inflows.
Farside Investors Report: Net Inflows Exceed Earlier Estimates
According to Farside Investors, these spot Bitcoin ETFs have already smashed an earlier estimate of $14 billion in first-year inflows from Galaxy Digital’s research head Alex Thorn.
However, it’s worth noting that the spot Bitcoin ETFs haven’t had a perfect ending to the year. From December 19 to 27, they experienced a combined $1.33 billion in outflows. This is a concerning trend, as five of the last six trading days have seen net outflows.
IBIT Experiences Largest Outflow
The iShares Bitcoin Trust ETF (IBIT) saw its largest outflow on December 24, amounting to $188.7 million.
Spot Bitcoin ETF Flow Data from Dec. 19 to Dec. 27
Below is a table highlighting the spot Bitcoin ETF flow data for the mentioned period:
| Date | IBIT | FBTC | ARKB | BITB |
| — | — | — | — | — |
| Dec 19 | – | – | – | – |
| Dec 20 | – | – | – | – |
| Dec 21 | – | – | – | – |
| Dec 22 | – | – | – | – |
| Dec 23 | – | – | – | – |
| Dec 24 | -$188.7M | – | – | – |
| Dec 25 | – | – | – | – |
| Dec 26 | – | – | – | – |
| Dec 27 | – | – | – | – |
Industry Analysts Expect Increased Institutional Involvement in 2025
According to Bitwise’s chief investment officer Matt Hougan, industry analysts expect to see more institutional involvement in 2025 when clearinghouses for spot Bitcoin ETF trading come online.
This increased participation is one of the catalysts behind Bitwise’s bullish $200,000 Bitcoin price estimate for 2025. VanEck also expects Bitcoin to top $180,000.
Ether ETFs End on a Strong Note
In contrast to the spot Bitcoin ETFs, the Ether ETFs have seen a total of $2.68 billion in net inflows since their launch on July 23.
BlackRock’s iShares Ethereum Trust ETF (ETHA) and Fidelity Ethereum Fund (FETH) Lead Net Inflows
The BlackRock’s iShares Ethereum Trust ETF (ETHA) and the Fidelity Ethereum Fund (FETH) take the lead in net inflows at $3.52 billion and $1.56 billion, respectively.
Grayscale Ethereum Mini Trust ETF (ETH) Completes Top Three
The low-fee Grayscale Ethereum Mini Trust ETF (ETH) finishes with the third most net inflows at $608.1 million.
Bitwise Ethereum ETF (ETHW) Passes $400 Million Milestone
The Bitwise Ethereum ETF (ETHW) recently passed the $400 million milestone in terms of net inflows.
Industry Analysts Expect Ether to Bounce Back in 2025
While ETH has underperformed Bitcoin and Solana in 2024, industry analysts expect it to bounce back in 2025. Bitwise expects it to reach a high of $7,000.
The estimated rise is attributed to increased activity on Ethereum layer 2s, more spot Ether ETF flows, and "massive growth" in stablecoins and real-world asset tokenization.
Magazine: Comeback 2025: Is Ethereum Poised to Catch Up with Bitcoin and Solana?
Additional reporting by Ciaran Lyons.
