US Spot Crypto ETFs Raked in $32B Inflows in 2025

US investors poured over $31.77 billion into US crypto exchange-traded funds in 2025 despite the crypto markets stumbling towards the final months of the year. 

US spot Bitcoin () ETFs took the lion’s share of investor interest, accumulating $21.4 billion in net inflows in 2025, to Farside Investors data.

However, it marks a fall from the $35.2 billion net inflows seen in 2024.

Spot Ether () ETFs a fourfold increase in inflows from 2024, attracting $9.6 billion of investor money in the year. Ether ETFs launched in July 2024, meaning 2025 was the first full year the ETFs could be traded. 

Spot Solana () ETFs were among the new crypto products to hit the US market in 2025, which have $765 million since launching in late October.

Institutional adoption has been supported by a more crypto-friendly this year, including new Securities and Exchange Commission leadership, which accelerated approvals for new crypto products.

BlackRock’s IBIT inflows 5x larger than FBTC

BlackRock in the crypto ETF market in 2025, with its iShares Bitcoin Trust ETF (IBIT) seeing a staggering $24.7 billion worth in inflows to end the year.

IBIT’s flow tally is now five times larger than the (FBTC), its nearest competitor.

Bloomberg ETF analyst Eric Balchunas in mid-December that IBIT ranked sixth in net inflows among all ETFs, trailing only broad index funds and a treasury bond ETF.

“If you can do $25b in [a] bad year imagine the flow potential in [a] good year,” he said, noting Bitcoin’s slight fall from $93,500 at the start of 2025.

Removing IBIT from the equation, the nine other spot Bitcoin ETFs saw a combined $3.1 billion in outflows for the year. 

Most other spot Bitcoin ETFs saw a marginal increase in net inflows, while the bled around $3.9 billion.

Meanwhile, BlackRock’s iShares Ethereum Trust ETF (ETHA) continues to dominate the market despite failing to record an inflow over the last 12 trading days.

ETHA’s inflows currently sit at almost $12.6 billion, while The Fidelity Ethereum Fund (FETH) and Grayscale Ethereum Mini Trust ETF () round out the top three at $2.6 billion and $1.5 billion, respectively.

Glassnode data that spot Bitcoin and Ether ETFs have shown little to no renewed demand over the past month, suggesting these crypto products may see a slow start in 2026.

Litecoin (), Solana and XRP () ETFs also launched in the back half of the year, giving investors greater access to through regulated investment vehicles.

More crypto ETFs to come in 2026 but not all will stick

Industry analysts expect an explosion in the number of crypto ETPs approved in 2026 under the SEC’s new which no longer require that each application be assessed on a case-by-case basis.

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Crypto asset manager Bitwise tipped that would launch in 2026, a prediction Bloomberg analyst James Seyffart agreed with but said beyond 2027 due to a lack of demand.

“We’re going to see a lot of liquidations in crypto ETP products. Might happen at [the] tail end of 2026 but likely by the end of 2027,” Seyffart said in December.

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