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Bitcoin and Ethereum dominate 2024’s top new ETF launches

Bitcoin and Ethereum dominate 2024’s top new ETF launches

GrafaGrafa2024/10/05 05:30
By:Mahathir Bayena

In 2024, Bitcoin (CRYPTO:BTC) and Ethereum-focused (CRYPTO:ETH) ETFs have seen increased investor interest, with 13 of the top 25 newly launched funds centered around these cryptocurrencies.

The approval of spot Bitcoin ETFs, including iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC), has contributed to significant year-to-date (YTD) fund flows, highlighting growing demand.

According to Nate Geraci, co-founder of The ETF Institute, 525 ETFs were introduced this year.

Bitcoin and Ethereum ETFs have ranked high among these new funds, with 5 of the top 7 being crypto-related.

Ethereum ETFs, which were approved in May and started trading in July, experienced rising demand despite initial skepticism.

Investor and former Coinbase CTO Balaji Srinivasan compared Bitcoin ETFs to historical events of centralization, suggesting they represent a shift toward decentralized, self-custodied Bitcoin.

IBIT has recorded a YTD fund flow of over $21.5 billion, FBTC at $9.8 billion, and ARKB at $2.6 billion.

Ethereum ETFs, such as iShares Ethereum Trust ETF (ETHA) and Fidelity Ethereum Fund ETF (FETH), have reported YTD flows of $1.1 billion and $453.6 million, respectively.

According to ETF data, technology funds currently lead in assets under management (AUM), while real estate ETFs have shown stronger returns, with an average 3-month return percentage of 17%.

At the time of reporting, the Bitcoin price was $61,878.19, and the Ethereum price was $2,400.77.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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