Zinger Key Points
- Ethereum spot ETFs saw $117 million in inflows, led by Fidelity's FETH and BlackRock's ETHA ETFs.
- Experts point to Bitcoin hitting $100,000 and rising institutional interest in spot ETFs as 2024's standout achievements.
Bitcoin BTC/USD and Ethereum BTC/USD spot exchange-traded funds (ETFs) experienced a surge of inflows on Dec. 26, marking a reversal from four consecutive days of net outflows.
What Happened: Bitcoin spot ETFs collectively saw a net inflow of $475 million, with Fidelity's FBTC leading the charge, securing $254 million, according to data.
Similarly, Ethereum ETFs recorded a total net inflow of $117 million, with Fidelity‘s FETH ETF receiving $82.9 million and BlackRock‘s ETHA ETF recording $28.1 million.
The turn of events followed a tumultuous week of net outflows, marking a renewed interest in these digital assets from investors.
“As we conclude the year 2024 on a remarkable note in the crypto space, we are pleased to see that this year has been transformative for the industry as a whole,” said Vishal Sacheendran, Head of Regional Markets at Binance.
He added that 2024 showed significant growth and institutional interest, further emboldened by the legalization of spot Bitcoin ETFs in the United States, highlighting the industry’s resilience.
Also Read: Are Donald Trump’s Ambitious Bitcoin Goals Feasible?
Rahul Pagidipati, CEO of ZebPay, emphasized the increasing mainstream adoption of crypto, with Bitcoin's breaking of its previous all time high.
“2024 was a year of tremendous growth and crucial milestones for the crypto industry, driven by groundbreaking events, regulatory milestones, and positive market dynamics,” Pagidipati said.
Arthur Azizov, CEO at B2BINPAY, highlighted Bitcoin’s dominance for much of the market rally.
"The fact that Bitcoin reached $100,000 was a major psychological milestone for many, adding another layer of significance to this eventful year,” Azizov stated, also noting the potential for a shift in dominance towards Ethereum and other altcoins.
What’s Next: The rebound in ETF inflows, coupled with expert commentary, indicates a positive outlook for the cryptocurrency market as it heads into 2025.
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