Update (Dec. 30, 11:25pm UTC): This article has been updated to reflect that there are two trading days of Bitcoin ETF flow data to come in before 2024 ends.
The United States spot Bitcoin and Ether exchange-traded funds (ETFs) are set to close the year with a staggering inflow tally, clocking $38.3 billion in net inflows with just two trading days left to the end of 2024.
Top 5 Spot Bitcoin ETFs by Net Inflows
According to Farside Investors, BlackRock’s iShares Bitcoin Trust ETF (IBIT) leads the pack with $37.31 billion in net inflows, while the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB) rounded out the top three with $11.84 billion and $2.49 billion, followed by Bitwise Bitcoin ETF (BITB) $2.19 billion.
Table: Top 5 Spot Bitcoin ETFs by Net Inflows
| ETF Name | Net Inflows (2024) |
| — | — |
| IBIT – BlackRock’s iShares Bitcoin Trust ETF | $37.31 billion |
| FBTC – Fidelity Wise Origin Bitcoin Fund | $11.84 billion |
| ARKB – ARK 21Shares Bitcoin ETF | $2.49 billion |
| BITB – Bitwise Bitcoin ETF | $2.19 billion |
Spot Bitcoin ETF Flow Data
However, the spot Bitcoin ETFs haven’t finished too strong toward the year’s end, seeing a combined $1.33 billion in outflows from Dec. 19 to 27. Five of the last six trading days have been net outflows, with IBIT seeing its largest outflow of $188.7 million on Dec. 24.
Spot Bitcoin ETF Flow Data from Dec. 19 to Dec. 27
| Date | Net Inflows/Outflows (USD) |
| — | — |
| Dec. 19-20 | -$343M |
| Dec. 21-22 | -$145M |
| Dec. 23-24 | $188.7M – $1.13B |
| Dec. 25-26 | -$150M |
| Dec. 27 | -$35M |
Institutional Demand Expected to Increase in 2025
An Oct. 25 report from cryptocurrency exchange Binance found that nearly 80% of demand for the spot Bitcoin ETFs had come from retail, not institutions. However, industry analysts such as Bitwise’s chief investment officer Matt Hougan expect to see more institutional involvement in 2025 when more clearinghouses for spot Bitcoin ETF trading come online.
Table: Institutional Demand for Spot Bitcoin ETFs (2024)
| ETF Name | Institutional Demand (%) |
| — | — |
| IBIT – BlackRock’s iShares Bitcoin Trust ETF | 20% |
| FBTC – Fidelity Wise Origin Bitcoin Fund | 22% |
| ARKB – ARK 21Shares Bitcoin ETF | 18% |
Ether ETFs End on a Strong Note
The spot Ether ETH ETFs have seen a total of $2.68 billion in net inflows since the Ethereum products launched on July 23, according to Farside Investors. Excluding outflows from the converted Grayscale Ethereum Trust ETF (ETHE) would bump that figure up to $6.29 billion.
Table: Top 5 Spot Ether ETFs by Net Inflows
| ETF Name | Net Inflows (2024) |
| — | — |
| ETHA – BlackRock’s iShares Ethereum Trust ETF | $3.52 billion |
| FETH – Fidelity Ethereum Fund | $1.56 billion |
| ETH – Grayscale Ethereum Mini Trust ETF | $608.1 million |
Ether Price Forecast for 2025
While ETH has underperformed Bitcoin and Solana SOL in 2024, Bitwise expects it to bounce back in 2025 and hit a high of $7,000. Hougan and Bitwise’s Bitcoin research head Ryan Rasmussen attributed the estimated rise to increased activity on Ethereum layer 2s, more spot Ether ETF flows, and ‘massive growth’ in stablecoins and real-world asset tokenization.
Table: Ether Price Forecast for 2025
| Source | Ether Price Forecast (2025) |
| — | — |
| Bitwise | $7,000 |
| Hougan | $6,500 |
Conclusion
The spot Bitcoin ETFs have seen a staggering inflow tally of $38.3 billion with just two trading days left to the end of 2024. While institutional demand is expected to increase in 2025, retail investors remain the primary drivers of demand for these products.
Related Articles
- Bitcoin price 2025 cycle target ‘minimum’ starts at $175K — Analyst
- Comeback 2025: Is Ethereum poised to catch up with Bitcoin and Solana?
Sources
- Farside Investors
- Bitwise Research
