Bitcoin ETFs closed 2024 with positive financial results despite market downsizing. Ethereum funds showed mixed outcomes, presenting opposing results.
2024 Results for Bitcoin ETFs
According to data from SoSoValue, Bitcoin ETFs recorded a total inflow of $5.32 million on January 1. Fidelity's Wise Origin Bitcoin Fund leads with nearly $37 million, nearing $20 billion in total assets, currently at $18.9 billion. Despite a successful year, BlackRock's iShares Bitcoin Trust ETF ended with outflows of $23.4 million, yet amassed total assets of $51.7 billion. The ARK 21Shares Bitcoin ETF and Grayscale Bitcoin Trust ETF are also in the red with $11.21 million and $9.63 million inflows respectively.
Opposing Results for Ethereum ETFs
Ethereum ETFs, which started in July, recorded nearly $36 million in inflows on the last day of 2024. Leading among them is the Fidelity Ethereum Fund with $31.77 million, significantly outperforming competitors. However, they continue to fall behind Bitcoin ETFs in total net flows for the year.
Comparison with Ethereum in the Cryptocurrency Market
Ether significantly underperformed Bitcoin this year. The ETH/BTC pair fell by 33% in 2024 and plunged 55% since 2022, indicating ongoing challenges for Ethereum.
The results demonstrate significant interest in Bitcoin ETFs despite mixed data from competing products. Ethereum ETFs showed signs of growth but continue to lag behind Bitcoin ETFs in terms of total net flows.
