Spot Ethereum exchange-traded funds (ETFs) set a new monthly record in December with $2.08 billion in net inflows. This performance nearly doubled November’s inflows, reflecting heightened investor interest in ether-backed financial products. BlackRock’s ETHA fund led the surge, contributing significantly to the robust inflow figures.
BlackRock Leads Ethereum ETF Inflows in December
BlackRock’s ETHA fund attracted $1.4 billion in December, marking 13 consecutive days of positive contributions. Fidelity’s FETH fund was followed by $752 million inflows, showcasing strong investor confidence. In contrast, Grayscale’s ETHE fund faced $274 million in net outflows, highlighting a varied performance across funds.
These inflows brought cumulative net inflows for Ethereum ETFs to over $2.6 billion by the end of December. Total net assets for ether ETFs reached $12.12 billion, representing over 3% of Ethereum’s market capitalization. The record inflows coincided with a mid-month ether price rally, which briefly surpassed $4,000.
Bitcoin ETFs Also See Activity Amid Ethereum’s Surge
Spot Bitcoin ETFs recorded $4.5 billion in December net inflows, down from November’s $6.4 billion. Despite the decline, Bitcoin ETFs showed resilience, with Fidelity’s FBTC leading with $36.81 million on December 31. Grayscale’s Bitcoin Mini Trust and Bitwise’s BITB also contributed to the positive inflows.
However, notable outflows occurred from BlackRock’s IBIT and ARK’s ARKB funds, dampening overall December performance. Despite mixed results, December’s last trading day ended positively for Bitcoin and Ethereum ETFs.
Ethereum ETFs saw a late-December rebound, with $35.93 million in net inflows following a prior day of $55.41 million in outflows. Fidelity’s FETH fund dominated with $31.77 million in inflows, while Grayscale’s ETHE recorded outflows of $5.61 million. Other Ether ETFs reported limited activity during this period.
In 2024, U.S. spot Bitcoin ETFs achieved $35.66 billion in net inflows, significantly exceeding expectations. BlackRock’s IBIT fund led with $37.31 billion, while Fidelity and ARK also recorded substantial inflows. On the Ethereum front, BlackRock’s ETHA and Fidelity’s FETH drove 2024’s impressive $3.52 billion and $1.56 billion inflows, respectively.