Cryptocurrencies Overwhelmingly Lead Among ETF Debuts, Filling Over Half of the Top 20 'Novice' Positions
In the rapidly evolving world of cryptocurrencies, Exchange-Traded Funds (ETFs) focused on digital assets have become a significant player. The first half of 2025 has seen Bitcoin and Ethereum-centric ETFs claim half of the top 20 newcomer spots by inflows, according to data from SoSoValue.
The leading ETFs, ranked by inflows and rankings, include:
- iShares Bitcoin Trust ETF (IBIT) - $57.4 billion in inflows, the largest inflows, and a 28.1% year-to-date return.
- Fidelity Wise Origin Bitcoin Fund (FBTC) - $12.1 billion in inflows, the second highest inflows.
- BlackRock Ethereum ETF (ETHA) - $9.6 billion, the top Ethereum fund.
- YieldMax MSTR Option Income Strategy ETF (MSTY) - $7.2 billion, focused on MicroStrategy-related options.
- ARK 21Shares ARKB - $2.38 billion, offering blockchain and crypto exposure.
- Bitwise BITB - $2.32 billion, a diversified crypto fund.
- Fidelity Ethereum Fund ETF (FETH) - $2.23 billion, Ethereum exposure.
- Grayscale Bitcoin Mini Trust ETF (BTC) - $1.66 billion, a smaller Bitcoin trust.
- Defiance Daily Target 2x Long MicroStrategy ETF (MSTX) - $1.52 billion, leveraged MicroStrategy focus.
- The 2x Ether ETF (ETHU) - $1.64 billion, leverages Ether futures exposure.
These crypto ETFs have attracted over $29.4 billion in inflows through mid-August 2025, driven by a surge in investor demand and favourable U.S. regulatory developments such as the GENIUS Act and SEC approvals facilitating more efficient ETF operations.
The market includes 76 spot and futures crypto ETPs with $156 billion in assets, concentrated mainly around Bitcoin and Ethereum products. The iShares Bitcoin Trust (IBIT) stands out for its size, inflows, and a 28.1% return year-to-date, positioning it as a prime beneficiary of the positive regulatory environment and institutional adoption.
Additional ETFs gaining traction offer exposure to blockchain technology and specialized crypto sectors, such as ARK 21Shares ARKB and the Volatility Shares 2x Solana ETF (SOLT), reflecting diversification within the crypto-ETF landscape.
Notably, BlackRock's Ethereum fund, ETHA, recorded the largest negative movement, losing approximately $375 million on August 4. However, SoSoValue data shows they have since rebounded, recording $461.21 million in net inflows on August 8 alone.
The market has witnessed significant activity, with ten of the top 20 ETFs in the overall market, launched since the beginning of 2024, being crypto-related. As of now, more than 1,300 ETFs have launched since the beginning of 2024, indicating a growing interest in digital assets among investors.
Bloomberg ETF analyst Eric Balchunas described the leaderboard as "wild," reflecting the dynamic nature of the crypto ETF market. As regulatory developments continue to unfold and investor interest remains high, the landscape is expected to evolve further in the coming months.
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