Bitcoin and Ethereum ETFs See Record-Breaking Inflows in 2024

• BlackRock ETF fund tracking Bitcoin and Ethereum remains one of the most valuable in the market.
• Despite YTD’s boost in ETF inflows, these coins are mildly stagnated in their price actions.

The spot Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds have accounted for a sizable share of the global ETF inflow among funds launched this year. Drawing on available data, BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA) remain the top performers among crypto ETFs.

BlackRock Leading in Crypto ETFs

Nate Geraci, President of The ETF Store, recently posted a chart showing the top ETF issuers by Year-To-Date (YTD) inflows. Geraci commented on the data, noting that 13 of the top 25 ETFs launched this year are either Bitcoin or Ethereum-related. 

This highlights the increasing growth of Bitcoin and Ethereum as investment instruments. He also pointed out that Bitcoin ETFs have clinched the top-four position of the approximately 400 ETFs launched this year.

*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

According to the chart, BlackRock’s IBIT is leading all other newly launched ETFs, with its YTD inflows reaching $21 billion. The Fidelity Wise Origin Bitcoin Fund (FBTC) followed behind with $10 billion in net inflows. 

ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF Trust (BITB) also stood out, each recording $2 billion in net inflows. Meanwhile, BlackRock’s ETHA is now the fifth-largest crypto ETF, amassing over $1 billion in net inflows since August.

This result establishes BlackRock as the issuer with the largest collective ETF holdings in the crypto market, demonstrating the firm’s growing influence. As noted in our earlier post, BlackRock has eclipsed MicroStrategy as the largest institutional Bitcoin holder.

To further reinforce its dominance, BlackRock has partnered with Nasdaq to list and trade options for the iShares Ethereum Trust. The proposal under the US Securities and Exchange Commission’s (SEC) review is expected to gain a final decision by April 2025. 

According to our recent analysis, the proposal, if approved, might give investors a lower-cost option to invest in Ethereum. This may further cement BlackRock’s position as a leader in the crypto space. 

Bitcoin and Ethereum Price Reactions

Bitcoin and Ethereum continue to experience price volatility despite soaring market inflows. Bitcoin has fluctuated between the $58,000 and $60,000 price range over the past few weeks. At press time, BTC was trading at $59,003, surging by 1% in 24 hours. Despite this marginal growth, the coin has a 5.3% negative growth to pare off over the trailing 7-day period.

Despite these price fluctuations, economist Market Maestro predicted a potential rally towards $100,000. The analyst based his prediction on the incoming Federal Reserve rate cuts expected this month. Maestro also pointed to the “cup and handle” and “head and shoulders” formations on Bitcoin’s weekly chart, suggesting a bullish momentum for the coin.

Ethereum, the second-largest coin, also shows intense volatility. In the past 24 hours, its price decreased by 0.74% to $2,504, and the trading volume dropped by 30.6% to $9.9 billion.

Nonetheless, Ethereum’s foundational support for countless decentralized applications still makes it a top investor choice. Hopefully, increased developer adoption might help the ETH price gain momentum again.