So, U.S. spot Bitcoin ETFs are basically the quiet overachievers of 2025. According to Eric Balchunas, Bloomberg’s resident ETF whisperer, these funds are absolutely crushing it. Like, “set-your-couch-on-fire” crushing it. 🔥
It’s been a little over a year since the SEC gave Bitcoin ETFs the green light, and they’ve been flexing ever since. Record inflows? Check. Assets under management that make your 401(k) look like pocket change? Double check. And now, they’ve rolled into 2025 like they own the place. 🚀
Balchunas, in his usual X (formerly Twitter) flair, pointed out that funds like BlackRock’s IBIT, Fidelity’s FBTC, and Ark/21Shares’ ARKB are basically swimming in cash. IBIT alone has pulled in over $2.3 billion this year, while FBTC is sitting pretty with $1.1 billion. Not too shabby for something that was just a twinkle in the SEC’s eye a year ago. 💸
“The spot bitcoin ETFs are quietly on fire to start the year, with $4.2b in flows which is 6% of all ETF flows,” he said, probably while sipping a latte and casually dropping truth bombs.
Since their debut, these ETFs have raked in over $40 billion in net inflows, with total assets under management now topping $121 billion. That’s right—$121 billion. Enough to buy Elon Musk’s Twitter (again) and still have change left for a few yachts. 🛥️
Oh, and did we mention they’ve left ESG ETFs in the dust? With a 127% return, Bitcoin ETFs are now the cool kids on the block, while ESG funds like Vanguard’s ESG U.S. Stock ETF and iShares Global Clean Energy ETF are left holding the reusable tote bag. 👜
Balchunas also casually mentioned that Bitcoin ETFs now hold “about the same as gold spot.” Yeah, gold. The thing people have been hoarding since, like, the Stone Age. Bitcoin’s basically the new gold, but with fewer pirates and more memes. 🏴☠️
Meanwhile, Ethereum ETFs are over here like, “Hey, remember us?” Spoiler: No one does. While Bitcoin ETFs are out here breaking records, Ethereum’s barely scraping by with $130 million in inflows. And don’t even get us started on altcoin ETFs—Solana, XRP, Litecoin, TRUMP, and Dogecoin are all vying for attention, but Balchunas thinks they’re just fighting over crumbs. 🍪
“For more context, Ether ETFs are like +$130m YTD, which isn’t bad, but this is why BTC is on another level and will utterly dominate this category. Even if we see like 10 altcoin ETFs roll out, they’ll draw headlines but fight over crumbs (albeit sizable ones) relatively speaking,” he said, probably while rolling his eyes at the altcoin chaos.
Spot Bitcoin ETFs recorded $188 million in net inflows on Jan. 23, marking six straight days of positive flows. And let’s not forget the $1 billion+ day on Jan. 17 and the $805 million day on Jan. 21. Sure, the $188 million slowdown might’ve been due to Trump’s crypto executive order, but hey, even Bitcoin ETFs need a breather sometimes. 🛑
So, are altcoin ETFs a threat to Bitcoin’s dominance? Nah. Bitcoin’s the Beyoncé of crypto ETFs—everyone else is just background dancers. 💃
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2025-01-24 18:31