Demand for US Bitcoin ETFs Rebounds After Slow Start to 2025

Demand for U.S. spot Bitcoin ETFs has seen a significant recovery after a slower-than-expected start to the year, according to data from Glassnode. During the week ending January 6, net inflows reached 17,567 BTC, worth approximately $1.7 billion. This figure exceeds the weekly average inflows of 15,900 BTC ($1.35 billion) recorded between October and December 2024.  Trends in Bitcoin ETF Flows Weekly inflows into U.S. spot Bitcoin ETFs fluctuated throughout late 2024. A significant outflow occurred in late September, coinciding with Bitcoin prices below $64,000. However, by October, inflows rebounded, with several weeks surpassing 24,000 BTC. From November to December, inflows stabilized at an average of 15,900 BTC per week, translating to about $1.35 billion. Notably, Bitcoin prices often rose in parallel with increasing ETF inflows, hitting an all-time high of $108,135 in December 2024. Instances of significant outflows remained rare from late November to late December, suggesting steady demand during the fourth quarter. Largest Holders of U.S. Spot Bitcoin ETFs Per Glassnode, as of early 2025, U.S. spot Bitcoin ETFs collectively held 1,137,923 BTC. The largest share, 559,673 BTC, belongs to BlackRock. Fidelity follows with 205,488 BTC, and Grayscale closely trails with 204,300 BTC. Notably, BlackRock's Bitcoin ETF (IBIT) achieved remarkable growth in 2024. It amassed $37.25 billion in assets during its inaugural year. This accomplishment positioned IBIT third on the 2024 Top 20 ETF Leaderboard. Its rapid ascent underscores the growing institutional appetite for cryptocurrency-backed ETFs. Broader ETF Market  While IBIT demonstrated substantial growth, it trailed behind traditional ETFs like Vanguard’s S&P 500 ETF (VOO) and iShares Core S&P 500 ETF (IVV). VOO led the leaderboard with $116 billion in inflows, followed by IVV with $89 billion. Despite these figures, IBIT’s performance in under a year underscores investors’ increasing interest in diversifying into digital assets. The broader ETF market also experienced record-breaking flows in 2024. Total inflows reached $1.14 trillion as of January 2, a 25% increase from the previous year, with an additional $225 billion in assets.