Cryptocurrency-linked exchange-traded funds (ETFs) have dominated year-to-date flows among the nearly 400 ETFs launched this year, with 13 out of 25 of those funds indexed to Bitcoin (BTC) or Ethereum (ETH).
The four largest funds are all U.S.-traded spot Bitcoin ETFs and have seen more than $2 billion in flows since the start of the year, according to a detailed analysis. common by Nate Geraci, CEO of The ETF Store.
IBIT dominates flows since the beginning of the year
BlackRock’s iShares Bitcoin Trust ETF (IBIT) leads the way by a comfortable margin, closing in on $21 billion. Fidelity’s FBTC is heading toward the $10 billion mark, while ARK 21Shares’ ARKB and Bitwise’s BITB round out the top four with $2.3 billion and $2 billion in year-to-date inflows, respectively.
Meanwhile, BlackRock’s iShares Ethereum Trust (ETHA) has surpassed $1 billion in inflows and is currently the seventh-largest exchange-traded fund by flows this year.
VanEck’s Bitcoin Spot HODL ETF is the 11th largest fund, with about $581 million in inflows, while Valkyrie’s BRRR and ProShares’ BITU follow closely as the 14th and 15th largest funds with $527.8 million and $446 million in inflows, respectively.
Franklin Templeton’s EZBC is the 18th largest fund on the list, with nearly $395 million in inflows in 2024. Just below that, by less than $2 million, Fidelity’s Ethereum Fund (FETH) is the 19th largest ETF year-to-date.
Grayscale’s BTC mini trust and Invesco’s BTCO round out the Bitcoin ETF participation on the list shared by Geraci. While the BTC mini trust saw nearly $348 million in inflows and took the 22nd spot, the BTCO has accumulated $342 million in inflows since the start of the year for the 23rd spot.
Bitwise’s Ethereum ETF (ETHW) rounds out the crypto ETFs with $314 million in inflows, making it the 24th largest fund.
Crypto ETFs are bleeding
Both Bitcoin and Ethereum spot ETFs saw net outflows last week. Data from Farside Investors shows that U.S.-traded Bitcoin spot ETFs lost over $277 million in cash from August 26 to 30, primarily due to negative net flows of $226 million from ARKB.
On the other hand, BlackRock’s IBIT closed the week with more than $210 million in inflows despite the lack of activity on three out of five trading days.
Additionally, U.S.-traded spot Ethereum ETFs closed the week with $12.4 million in outflows. This relatively small amount was followed by an equal outflow lack of activitybecause these funds recorded no flows as of August 30, the first time since their launch on July 23.
