Year-End Pullback Fails to Dampen Investor Enthusiasm: US Crypto ETF Sees Net Inflows of Around $32 Billion in 2025

BlockBeats News, January 1st. Despite a year-end pullback in the crypto market in 2025, U.S. investors poured approximately $31.77 billion into crypto ETFs throughout the year, highlighting continued institutional demand.

Data shows that spot Bitcoin ETFs remained the primary recipient of funds, with a net inflow of $21.4 billion in 2025, although down from $35.2 billion in 2024. The spot Ethereum ETF experienced its first full trading year, attracting $9.6 billion throughout the year, roughly four times the amount in 2024. Additionally, since its listing at the end of October, the Spot Solana ETF has seen cumulative inflows of around $765 million.

On the issuer side, BlackRock continues to lead the market. Its IBIT Bitcoin ETF saw $24.7 billion in inflows during the year, roughly five times the size of the second-place Fidelity FBTC, placing it at the forefront of net inflows for all ETFs in the market. Excluding IBIT, the other nine Bitcoin spot ETFs saw a total net outflow of $3.1 billion during the year, with Grayscale GBTC experiencing an outflow of around $3.9 billion.

As for Ethereum ETFs, BlackRock's ETHA remains dominant, with cumulative inflows of around $12.6 billion, but has not seen any new inflows for several consecutive days. Glassnode data indicates weakening demand for Bitcoin and Ethereum ETFs recently, potentially slowing the pace of inflows at the start of 2026.

Looking ahead, with the SEC's new universal listing standards, 2026 may see a wave of concentrated issuance of crypto ETFs. Bitwise expects that over 100 crypto ETFs will debut next year, but analysts warn that some products may gradually exit the market between 2026 and 2027 due to insufficient demand.