BTC ETF and ETH ETF dominate the 740 ETF issuances in 2024

This year, the introduction of spot BTC ETF and spot ETH ETF in the United States has attracted a large amount of capital into the exchange-traded fund (ETF) market. Among the 740 ETFs launched this year, cryptocurrency ETFs rank in the top eight in terms of inflows. After Donald Trump's victory in the 2024 US presidential election, the funds flowing into BTC and ETH ETFs increased significantly, as people hope for cryptocurrency-friendly policies and the establishment of strategic BTC reserves.

BTC ETF dominates in ETF issuance in 2024
ETF Store President Nate Geraci highlighted the growing dominance of crypto-focused exchange-traded funds (ETFs) in 2024. According to Geraci, the top eight ETFs launched this year are all related to digital assets.

This includes four spot BTC ETFs, two spot ETH Ethereum ETFs, and two ETFs tracking MicroStrategy (MSTR). In the context of the introduction of nearly 740 ETFs in 2024, the surge in crypto-related ETFs is particularly prominent. Therefore, as BTC and cryptocurrencies become more mainstream, it highlights a significant shift in investment patterns.

According to the above chart, BlackRock's IBIT and ETHA products continue to receive strong demand from investors. Nate Geraci also pointed out that there is a high demand for the crypto ETFs tracking MSTR stock, which has achieved significant returns in 2024 and recently entered the Nasdaq 100 index.

BTC and ETH ETF continue to see strong inflows of funds

Last week, from December 23rd to December 27th, the net outflow of spot BTC ETF was 388 million US dollars, reflecting some profit taking and portfolio rebalancing. However, the weekly net inflow of Fidelity ETF (FBTC) was 183 million US dollars, indicating continued interest from certain investor groups. According to SoSo Value's data, the net asset value (NAV) of BTC spot ETF is currently 1066.83 billion US dollars.

On the other hand, the BTC price still faces selling pressure, falling below the level of 94,000 US dollars. Cryptocurrency market analyst Ali Martinez emphasized the potential bullish setup of BTC, indicating that the price may rebound. However, the analyst emphasized that the recovery depends on whether BTC can maintain its key support level of 93,000 US dollars.

Unlike the outflow of funds from BTC ETF last week, cryptocurrency analyst Ali Martinez reported a bullish sentiment among Ethereum (ETH) traders. According to Martinez, 78.30% of open interest futures traders on the platform are betting on the rise in ETH prices, with a net increase of $349 million during the same period. Belldex ETF (ETHA) and Fidelity ETF (FETH) made significant contributions, with net inflows of $182 million and $160 million respectively, according to the report.

The price of Ethereum has been under selling pressure, currently trading at $3,400. However, on-chain data suggests a bullish trend for Ethereum in the future. Cryptocurrency analyst Ali Martinez reported that there is a clear bullish sentiment among Ethereum (ETH) traders. According to Martinez, 78.30% of open futures traders on the platform are betting on an increase in the price of Ethereum.