Crypto ETFs account for more than half of all funds launched in the US this year

Crypto-related exchange-traded funds (ETFs) dominate year-to-date flows among the nearly 400 ETFs launched this year, as 13 out of 25 of these funds are indexed to Bitcoin (BTC) or Ethereum (ETH).

The four largest funds are all spot Bitcoin ETFs traded in the US and have registered over $2 billion in year-to-date flows, according to a breakdown shared by The ETF Store CEO Nate Geraci. 

IBIT dominates year-to-date flows

BlackRock’s iShares Bitcoin Trust ETF (IBIT) leads by a comfortable amount, inching closer to $21 billion. Fidelity’s FBTC gears towards the $10 billion mark, while ARK 21Shares’ ARKB and Bitwise’s BITB wrap up the top 4 with $2.3 billion and $2 billion year-to-date inflow, respectively.

Meanwhile, BlackRock’s iShares Ethereum Trust (ETHA) has surpassed $1 billion in inflows and is currently the seventh-largest exchange-traded fund in terms of flows this year. 

VanEck’s spot Bitcoin ETF HODL is the 11th largest fund, with roughly $581 million in inflows, while  Valkyrie’s BRRR and ProShares’ BITU follow closely as the 14th and 15th largest with $527.8 million and $446 million inflows, respectively.

Franklin Templeton’s EZBC is the 18th largest fund on the list, getting close to $395 million in inflows in 2024. Right below it with a less than $2 million difference, Fidelity’s Ethereum Fund (FETH) is the 19th ETF with the largest year-to-date flow.

Grayscale’s mini trust BTC and Invesco’s BTCO close the participation of Bitcoin ETFs’ on the list shared by Geraci. While mini trust BTC registered nearly $348 million in inflows and took the 22nd position, BTCO has amassed $342 million in year-to-date inflows 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 bleed

Both Bitcoin and Ethereum spot ETFs registered net outflows last week. Farside Investors’ data shows that spot Bitcoin ETFs traded in the US lost over $277 million in cash from Aug. 26 to Aug. 30, driven mainly by ARKB’s $226 million in negative net flows.

On the other hand, BlackRock’s IBIT closed the week with over $210 million in inflows despite the lack of activity in three out of five trading days.

Moreover, US-traded spot Ethereum ETFs closed the week with $12.4 million in outflows. The relatively small amount was followed by an equal lack of activity, as these funds registered no flows on Aug. 30, the first time since their launch on July 23. 

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