Crypto ETFs Dominate 2024 in the U.S. with Record Inflows

Crypto ETFs have made a significant impact in 2024, with 13 out of the 25 largest ETF launches, based on year-to-date inflows, being crypto-related.

Among the roughly 400 ETFs introduced this year, the top four by inflows have all been spot Bitcoin ETFs. BlackRock’s iShares Bitcoin Trust (IBIT) leads the pack, attracting close to $21 billion in inflows so far. Fidelity’s Wise Origin Bitcoin Fund (FBTC) follows with nearly $10 billion, while ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF Trust (BITB) each brought in around $2 billion.

*13* of top 25 ETF launches this yr are either bitcoin or ether related…

Out of approx 400 new ETFs.

Top 4 ETFs all spot btc. pic.twitter.com/gIkAiIM1jZ

— Nate Geraci (@NateGeraci) September 2, 2024

Ranking seventh, the iShares Ethereum Trust ETF (ETHA) is the top performer among Ethereum ETFs, surpassing $1 billion in inflows. Data from Morningstar, a fund research firm, indicates that ETHA crossed the $1 billion threshold in August.

Together, spot Bitcoin and Ethereum ETFs have accumulated over $60 billion in assets, according to Morningstar.

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Grayscale Investments expects the crypto ETF market to grow, expanding into new digital assets and diversified crypto indexes. Dave LaValle, Grayscale’s global head of ETFs, mentioned on August 12 that more single-asset products and diversified offerings are on the horizon.

Several other proposed crypto ETFs are awaiting regulatory approval, including Solana ETFs and diversified crypto index funds like the Hashdex Nasdaq Crypto Index ETF.

LaValle highlighted the rapid adoption of these products, noting that net inflows into spot crypto ETFs in 2024 have surpassed three times the largest annual inflow for any ETF in history.

Alexander Stefanov