Spot Ethereum ETFs Hit Record $2.08 Billion in Net Inflows in December

U.S. spot Ethereum exchange-traded funds (ETFs) set a record in December with over $2.08 billion in net inflows.

The figure nearly doubled November’s inflows of just over $1 billion, underscoring growing investor interest in ether-backed financial products, according to data from SoSoValue.

BlackRock’s ETHA fund led the surge, attracting $1.4 billion in net inflows during the month, including 13 consecutive days of positive contributions.

Fidelity’s FETH Saw $752M in Inflows

Fidelity’s FETH fund followed with $752 million in inflows. However, not all funds saw growth—Grayscale’s ETHE reported net outflows of $274 million.

These inflows brought cumulative net inflows for ether ETFs to over $2.6 billion, with total net assets reaching $12.12 billion. This represents over 3% of Ethereum’s market capitalization.

December’s inflow record coincided with a mid-month rally in ether prices, briefly surpassing $4,000 before retreating to around $3,500.

As of writing, ether trades at $3,409, up 2.23% in the last 24 hours.

In comparison, spot bitcoin ETFs recorded net inflows of $4.5 billion in December, down from November’s record-breaking $6.4 billion.

Bitcoin peaked at $108,135 on December 17, later retreating to $95,556.

One of the more ridiculous charts you’ll ever see…

Assets in spot gold ETFs vs bitcoin ETFs.

Gold ETFs launched in 2004.

Bitcoin ETFs in 2024.

via @glxyresearch pic.twitter.com/eJo7Db9kb3

— Nate Geraci (@NateGeraci) December 28, 2024

Notably, spot Bitcoin and Ethereum ETFs recorded modest inflows on December 31, their last trading day of the year, following a period of significant outflows driven by a broader market downturn.

12 Bitcoin ETFs logged a net inflow of $5.32 million, ending a two-day outflow streak that saw $723 million exit the funds.

Fidelity’s FBTC led with $36.81 million in inflows, followed by Bitwise’s BITB with $8.68 million and Grayscale Bitcoin Mini Trust with $4.14 million.

However, these gains were partly offset by outflows from BlackRock’s IBIT ($23.45 million), ARK 21Shares’ ARKB ($11.23 million), and Grayscale’s GBTC ($9.63 million). Six other Bitcoin ETFs reported no activity.

Ethereum ETFs saw a stronger rebound, with $35.93 million in net inflows following a prior day of $55.41 million in outflows.

Fidelity’s FETH accounted for most of the inflows at $31.77 million, while Grayscale Ethereum Mini Trust added $9.77 million. Grayscale’s ETHE partially offset these gains with $5.61 million in outflows, while other Ether ETFs reported no activity.

US Spot Bitcoin ETFs See Over $35B in Inflows in 2024

As reported, spot Bitcoin ETFs in the United States recorded a remarkable $35.66 billion in net inflows in 2024, significantly exceeding early industry projections.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) led the market with $37.31 billion in inflows, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $11.84 billion, and ARK’s 21Shares Bitcoin ETF (ARKB) with $2.49 billion.

Other significant contributors included the Bitwise Bitcoin ETF (BITB), which reported $2.19 billion in inflows.

These figures far surpassed Galaxy Digital’s initial $14 billion first-year estimate.

However, Bitcoin ETFs faced a slight downturn toward the year’s end, with $1.33 billion in outflows since Dec. 19.

On the Ether ETF front, BlackRock’s iShares Ethereum Trust ETF (ETHA) and Fidelity Ethereum Fund (FETH) led inflows with $3.52 billion and $1.56 billion, respectively.

Grayscale’s low-fee Ethereum Mini Trust ETF (ETH) secured $608.1 million in inflows, while the Bitwise Ethereum ETF (ETHW) crossed $400 million.