Crypto ETF Inflows Hit $48.6 Billion, Surpassing 2024 Total
Crypto ETF inflows have surged to $48.6 billion so far this year, surpassing the total recorded for all of 2024, according to CoinShares.
Bitcoin products still dominate with roughly $30 billion in inflows, or 62%, said head of research James Butterfill in a post on X today.
But Bitcoin’s market share tumbled from 86% last year as Ethereum and other altcoin ETFs gained traction, he said.
YTD inflows for crypto ETFs (Source: X)
Ethereum ETFs Lead The Charge
Leading the altcoin charge was Ethereum ETFs, which managed to massively outpace their performance in 2024. In July, ETH products had already surpassed 2024’s totals of $4.9 billion and inflows into ETH ETFs have nearly tripled since to reach $14.1 billion, according to Butterfill’s update.
The share held by Ethereum ETFs has surged to 29% this year from 11% in 2024.
Apart from ETH, altcoins Solana (SOL) and XRP have also emerged as strong performers in the crypto ETF market.
“Inflows into altcoins seem to be confined to SOL and XRP at present,” Butterfill said on X. This is after YTD flows for SOL and XRP reached $2.7 billion and $1.9 billion, respectively.
Crypto ETF Inflows Surged Last Week
Crypto ETFs chalked up recorded inflows of $5.95 billion last week. Bitcoin products accounted for the majority of these inflows, with $3.6 billion entering products tied to the largest crypto by market cap.
The leader was BlackRock’s IBIT spot BTC ETF, which is on the verge of achieving $100 billion in assets under management (AUM). According to Bloomberg ETF analyst Eric Balchunas, IBIT’s AUM stands at $99 billion, and it has already passed the “etf legend” VIG.
SEC Expected To Deliver Decisions On Multiple Altcoin ETFs
The strong flows seen by crypto ETFs this year could continue as the market braces for decisions from the US Securities and Exchange Commission (SEC) on a number of proposed altcoin ETFs this month.
Analysts had predicted that the first two weeks of October could be “enormous” for US spot crypto ETFs given the multiple decision deadlines. However, the ongoing government shutdown has delayed the process, especially as regulatory agencies operate with reduced staff during this period.
Despite the ongoing shutdown, some major issuers have managed to launch new products. At the start of the week, Grayscale Investments debuted the first US-listed spot crypto ETFs with staking capabilities.
Once the US government shutdown ends, there could also be an influx of new crypto ETF applications for a wide variety of digital assets given the SEC recently approved generic listing rules for the products.
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