U.S. spot Ethereum ETFs shattered records in December, amassing over $2.08 billion in net inflows. This figure nearly doubled November’s inflows of $1 billion, showcasing robust investor enthusiasm for ether-backed financial products.
BlackRock Leads the Charge
BlackRock’s iShares Ethereum Trust ETF (ETHA) dominated the market, attracting $1.4 billion in net inflows, marking 13 consecutive days of positive contributions. Fidelity’s Ethereum Fund (FETH) followed, adding $752 million. However, not all funds thrived; Grayscale’s Ethereum Trust (ETHE) saw $274 million in net outflows.
In total, December’s inflows propelled cumulative net investments in Ethereum ETFs to $2.6 billion, with total assets under management reaching $12.12 billion—representing over 3% of Ethereum’s market capitalization.
Mid-Month Rally Boosts Ethereum Prices
December’s record-breaking inflows coincided with a mid-month rally in Ethereum prices. Ether briefly surpassed $4,000 before settling around $3,500. As of writing, Ethereum trades at $3,409, reflecting a 2.23% gain in the last 24 hours.
The strong performance of Ethereum ETFs highlights growing confidence in the asset’s long-term potential, driven by increasing institutional adoption and demand for diversified crypto exposure.
Bitcoin ETFs See Decline from November Highs
In contrast, spot Bitcoin ETFs saw $4.5 billion in net inflows in December, down from November’s record-breaking $6.4 billion. Bitcoin prices peaked at $108,135 on December 17 before retreating to $95,556.
December 31 marked a modest rebound for Bitcoin ETFs, which logged $5.32 million in net inflows after a two-day outflow streak totaling $723 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) led with $36.81 million in inflows, while BlackRock’s IBIT saw $23.45 million in outflows.
2024: A Banner Year for Crypto ETFs
For the full year, U.S. spot Bitcoin ETFs recorded a staggering $35.66 billion in net inflows, far exceeding early industry estimates. BlackRock’s IBIT led with $37.31 billion in inflows, followed by Fidelity’s FBTC with $11.84 billion.
Ethereum ETFs also showed strong growth throughout 2024. BlackRock’s ETHA led with $3.52 billion in inflows, followed by Fidelity’s FETH with $1.56 billion. Grayscale’s low-fee Ethereum Mini Trust ETF and Bitwise Ethereum ETF rounded out the top performers, reporting $608.1 million and over $400 million in inflows, respectively.
Outlook for 2025
The record-breaking inflows into Ethereum and Bitcoin ETFs in December signal sustained investor confidence in crypto-backed financial products. However, market volatility remains a key factor, underscored by year-end outflows in both Bitcoin and Ethereum ETFs.
With increasing regulatory clarity and growing institutional participation, 2025 could see further expansion of crypto ETFs as mainstream financial instruments. For now, Ethereum’s strong finish to 2024 cements its position as a leader in the evolving crypto market.
