New Year’s ETF Action: Bitcoin and Ether Funds Close 2024 With Modest Gains

New Year’s ETF Action: Bitcoin and Ether Funds Close 2024 With Modest Gains

Bitcoin ETFs Show Mixed Results While Ethereum ETFs Shine

As 2024 came to a close on New Year’s Eve, attention turned to the performance of spot bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs). These financial instruments wrapped up the year with modest but noteworthy gains. Bitcoin ETFs recorded total inflows of $5.32 million, while ether ETFs significantly outperformed with inflows of $35.93 million.

Bitcoin ETFs: A Mixed Bag of Results

On December 31, 2024, the 12 bitcoin ETFs collectively drew in $5.32 million in new inflows, as per sosovalue.com metrics. Fidelity’s FBTC fund emerged as the top performer, leading the group with $36.81 million in inflows. Following closely were Bitwise’s BITB with $8.68 million and Grayscale’s Bitcoin Mini Trust, which brought in $4.14 million.

However, not all funds ended the year on a high note. Blackrock’s IBIT experienced a significant outflow of $23.45 million, while Ark Invest and 21shares’ ARKB lost $11.23 million. Grayscale’s flagship GBTC fund also struggled, shedding $9.63 million. Despite the year-end dip, IBIT had an impressive 2024 overall, amassing $37.25 billion in inflows. Conversely, GBTC faced a challenging year with $21.5 billion in outflows.

By the end of the day, trading volume among the 12 bitcoin funds reached $2.25 billion. The year’s cumulative net inflows since January 11, 2024, stood at $35.24 billion. As of January 1, 2025, these funds collectively held $105.40 billion in BTC reserves, accounting for 5.69% of bitcoin’s total market value.

Ether ETFs: A Stellar Finish to 2024

Ethereum-focused ETFs outshone their bitcoin counterparts on December 31, recording $35.93 million in new inflows. Trading activity across the nine ether ETFs was robust, with a total volume of $313.11 million. Fidelity’s FETH dominated the day with $31.77 million in inflows, followed by Grayscale’s Ethereum Mini Trust, which added $9.77 million. Meanwhile, Grayscale’s larger ETH fund, ETHE, experienced an outflow of $5.61 million, offsetting some gains.

Since their debut on July 23, 2024, ether ETFs have accumulated net inflows of $2.66 billion. Blackrock’s ETHA emerged as the top performer of 2024, bringing in $3.52 billion, while Grayscale’s ETHE saw outflows of $3.64 billion over the same period. As of January 1, 2025, the nine ether ETFs collectively managed $12.12 billion in ETH reserves, representing 3.01% of ether’s total market capitalization.

Conclusion

As the calendar turns to 2025, both bitcoin and ether ETFs demonstrate their growing role in the cryptocurrency ecosystem. Despite some funds facing challenges, the overall inflows underscore continued investor interest and confidence in these digital assets.