According to a post on the X platform by Nate Gerachi, president of ETF Store, an ETF specialist investment advisory firm, 13 of the 25 largest ETFs launching in 2024 by inflows this year are cryptocurrency exchange-traded funds (ETFs).
According to Geraci, of the roughly 400 new ETFs expected to launch in 2024, the four largest by inflows were all spot Bitcoin (BTC) ETFs.
BlackRock’s iShares Bitcoin Trust (IBIT) tops the charts, with net inflows of nearly $21 billion so far. It is followed by the Fidelity Wise Origin Bitcoin Fund (FBTC) with net inflows of nearly $10 billion, while the ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF Trust (BITB) have each seen net inflows of about $2 billion, according to the post.
Coming in at number seven is the iShares Ethereum Trust ETF (ETHA), which led the way among Ether (ETH) ETFs with net inflows of over $1 billion. The ETF surpassed $1 billion in August, according to data from fund research firm Morningstar.
Top ETFs Launching in 2024 Source: The ETF Store
relevant: Crypto ETFs Will Expand to New Asset Types, Indices – Grayscale Executive
According to Morningstar, the combined net assets of spot BTC and ETH ETFs exceed $60 billion.
The cryptocurrency ETF market will continue to expand with new types of digital assets and various cryptocurrency indices, according to an executive at asset manager Grayscale Investments.
“You’ll see more single-asset products, and then certainly some index-based and diversified products,” Dave LaValle, Grayscale’s global head of ETFs, said on Aug. 12.
A number of other proposed crypto ETFs are seeking regulatory approval, including new types of single-asset funds, such as the Solana ETF, and diversified crypto indexes, such as the Hashdex Nasdaq Crypto Index ETF.
Laval said net inflows into spot crypto ETFs are “more than three times the largest one-year inflows in ETF history.” “So we’re talking about massive, massive adoption.”
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