In a remarkable turn of events, United States spot Bitcoin exchange-traded funds (ETFs) have exceeded early industry estimates, raking in a staggering $35.65 billion in net inflows in 2024. This figure far surpasses the initial $14 billion first-year estimate from Galaxy Digital’s research head Alex Thorn. Meanwhile, spot Ether ETFs have also finished strong, with net inflows of $349.3 million in the last four trading days, reaching a total of $2.68 billion since launch.

Top-Performing Bitcoin ETFs

BlackRock’s iShares Bitcoin Trust ETF (IBIT) led the pack with an impressive $37.31 billion in net inflows, followed closely by the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB) with $11.84 billion and $2.49 billion, respectively. The Bitwise Bitcoin ETF (BITB) also performed well, with net inflows of $2.19 billion.

Year-End Outflows

Despite the overall success, spot Bitcoin ETFs experienced a combined $1.33 billion in outflows since December 19, with five of the last six trading days resulting in net outflows. IBIT saw its largest outflow of $188.7 million on December 24.

Institutional Involvement on the Horizon

Industry analysts, such as Bitwise’s chief investment officer Matt Hougan, expect to see increased institutional involvement in 2025 as more clearinghouses for spot Bitcoin ETF trading come online. This development is expected to be a catalyst for growth, with Bitwise predicting a bullish $200,000 Bitcoin price estimate for 2025.

Ether ETFs End on a High Note

Spot Ether ETFs closed 2024 with a total of $2.68 billion in net inflows since their launch on July 23. Excluding outflows from the converted Grayscale Ethereum Trust ETF (ETHE), this figure would increase to $6.29 billion. BlackRock’s iShares Ethereum Trust ETF (ETHA) and the Fidelity Ethereum Fund (FETH) led the way with net inflows of $3.52 billion and $1.56 billion, respectively.

Ethereum’s Expected Rebound

Despite underperforming Bitcoin and Solana in 2024, Bitwise expects Ethereum to bounce back in 2025, reaching a high of $7,000. This 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.

Source: Cointelegraph.com

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