US Crypto ETFs Power Through a Turbulent 2025
Even as cryptocurrency prices lost momentum toward the end of the year, US crypto ETFs proved remarkably resilient.
In 2025, investors channeled over $31.77 billion into crypto exchange-traded funds (ETFs) listed in the United States, highlighting sustained institutional appetite for regulated digital asset exposure. While market prices cooled, confidence in crypto ETFs remained strong.
Bitcoin ETFs Lead the Charge
Spot Bitcoin ETFs Dominate Crypto ETF Inflows
It is unsurprising that spot Bitcoin ETFs captured the largest share of investor interest.
According to Farside Investors, US spot Bitcoin ETFs recorded $21.4 billion in net inflows during 2025 — lower than the $35.2 billion inflow into Bitcoin ETFs in 2024.
Among them, BlackRock’s iShares Bitcoin Trust (IBIT) stood out:
- IBIT attracted $24.7 billion in inflows by year-end
- Total inflows now five times larger than Fidelity’s FBTC
- Ranked sixth globally by net inflows, according to Bloomberg ETF analyst Eric Balchunas
Balchunas noted:
“If Bitcoin ETFs can pull in $25 billion during a tough year, imagine the upside in a strong market,” referencing Bitcoin’s slide from roughly $93,500 at the start of 2025.
Excluding IBIT, the remaining nine spot Bitcoin ETFs collectively posted $3.1 billion in net outflows, with the Grayscale Bitcoin Trust shedding close to $3.9 billion.
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Ethereum ETFs Surge in Their First Full Year
Spot Ether ETFs See Explosive Growth
While Bitcoin dominated headlines, Ethereum ETFs quietly delivered one of the year’s biggest surprises.
Spot Ether ETFs attracted $9.6 billion in 2025, a fourfold increase compared to 2024. Since Ether ETFs launched in July 2024, this was their first full trading year — and demand was strong.
- iShares Ethereum Trust (ETHA): ~$12.6B in inflows
- Fidelity Ethereum Fund (FETH): ~$2.6B
- Grayscale Ethereum Mini Trust: ~$1.5B
Even so, ETHA has seen nearly two weeks without new inflows, hinting at cooling momentum heading into 2026.
Altcoin ETFs Expand the Playing Field
Solana, XRP, and Litecoin Enter the ETF Arena
2025 also marked a turning point for altcoin exposure via US crypto ETFs.
Newly launched spot ETFs tied to Solana, XRP, and Litecoin provided investors regulated access beyond Bitcoin and Ether. Solana ETFs, which debuted in late October, have already attracted $765 million in inflows.
This expansion reflects growing institutional comfort with diversified crypto exposure, supported by a more crypto-friendly regulatory climate under the SEC.
ETF Demand Slows Heading Into 2026
Glassnode Signals Cooling Appetite
Despite strong annual totals, on-chain analytics from Glassnode show little renewed demand for Bitcoin and Ether ETFs over the past month, suggesting that crypto ETFs may enter 2026 with muted momentum.
The trend indicates short-term enthusiasm may be taking a breather, though long-term conviction remains intact.
A Flood of Crypto ETFs Is Coming — But Survival Isn’t Guaranteed
Over 100 Crypto ETFs Expected in 2026
Analysts anticipate a surge of crypto ETF launches in 2026, driven by SEC generic listing standards that streamline approvals.
Bitwise predicts over 100 new crypto ETFs could debut next year — a forecast echoed by Bloomberg analyst James Seyffart.
However, Seyffart cautioned:
“We’re going to see a lot of liquidations in crypto ETP products. Many won’t survive past 2027.”
As competition intensifies, only ETFs with strong demand, liquidity, and brand trust are likely to endure.
The Bottom Line
US crypto ETFs demonstrated resilience in 2025, attracting tens of billions even as markets wobbled. Bitcoin and Ether remain the backbone of institutional crypto exposure, BlackRock continues to dominate, and altcoin ETFs are gaining traction.
With demand cooling and a wave of new products on the horizon, 2026 could separate winners from forgotten funds, making the next chapter in the crypto ETF story even more dramatic.
