BlackRock’s iShares Bitcoin Trust (IBIT) emerged as the dominant player in the cryptocurrency exchange-traded fund (ETF) market, recording over $37 billion in net inflows in 2024, according to data from Farside Investors.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) secured the second spot at nearly $12 billion in net inflows. Other major Bitcoin funds also saw notable inflows over the past year.
EXPLORE: Buying and Using Bitcoin Anonymously / Without ID
BlackRock Dominates in Ethereum ETFs As Well
BlackRock’s dominance extended beyond Bitcoin ETFs. Its iShares Ethereum Trust (ETHA) also led the pack in the Ether ETF category, pulling in $3.5 billion in net inflows. Fidelity’s Ethereum Fund (FETH) followed with $1.5 billion.
“Fidelity is a closer second here, achieving 44% of BlackRock’s total inflows compared to 31% in Bitcoin,” noted Farside in a Dec. 31 update.
U.S.-listed Bitcoin ETFs attracted over $35 billion in net inflows during the year, averaging approximately $144 million daily. The figure accounts for more than $20 billion in net outflows from the Grayscale Bitcoin Trust (GBTC).
Bitcoin had an incredible $35.2bn of inflow for the year. That is an incredible $144m of net inflow for each day the ETFs were open pic.twitter.com/ELjPE6kq70
— Farside Investors (@FarsideUK) December 31, 2024
Since the launch of spot Bitcoin ETFs, GBTC has faced declining interest due to its higher % management fees of 2.5%. Grayscale’s newer and cheaper Bitcoin Mini Trust, launched in July, charges a reduced annual fee of 0.15%.
The first U.S. Bitcoin ETFs were launched in January following years of regulatory challenges. The market’s momentum was further fueled by a surge in crypto enthusiasm after Donald Trump’s presidential election victory, which many believe could favor the industry.
According to Bloomberg Intelligence, by November, U.S. Bitcoin ETFs surpassed $100 billion in net assets for the first time. Spot Bitcoin ETFs have dominated the ETF landscape in 2024, with six of the top ten launches being BTC-focused.
According to Nate Geraci, president of The ETF Store, the top four in terms of inflows were all spot Bitcoin ETFs, out of around 400 launched this year.
EXPLORE: 3 Experts Predict: How High Can Bitcoin Go In 2025?
BlackRock’s Bitcoin ETF Sees Record Outflow Near Year-End
On December 24, BlackRock’s Bitcoin ETF recorded its largest-ever single-day outflow. The fund saw outflows of $188.7 million, surpassing its previous high of $72.7 million just days earlier.
The outflows were part of a larger wave of withdrawals that swept across US-based spot Bitcoin ETFs. Collectively, these funds experienced outflows totaling $338.4 million on Christmas Eve alone, with net outflows reaching $1.52 billion over four consecutive trading days.
On December 31, both spot Bitcoin and Ethereum ETFs saw notable inflows after a broader market downturn, which led to heavy losses for both assets.
According to SoSoValue data, 12 spot Bitcoin ETFs experienced a net inflow of $5.32 million, ending a two-day streak of over $723 million in outflows. Fidelity’s FBTC led the pack with a $36.81 million inflow, while Bitwise’s BITB and Grayscale Bitcoin Mini Trust saw additional contributions of $8.68 million and $4.14 million, respectively.
Ethereum ETFs also made a strong recovery on the same day, with $35.93 million flowing into the 9 spot Ethereum ETFs after a previous day of $55.41 million in outflows.
EXPLORE: 10 Coins with High Returns: Crypto Forecast 2025
Join The 99Bitcoins News Discord Here For The Latest Market Updates
The post BlackRock’s Spot Bitcoin ETF Saw Over $37 Billion in Net Inflows in 2024 appeared first on 99Bitcoins.