2024 Was Just the Beginning for Spot Bitcoin ETFs; Get Ready for 2025.

Gary Gensler once described the cryptocurrency market as the “Wild West,” and with new leadership in Washington, the crypto ETF space could be about to embrace that untamed spirit.

The first year of spot bitcoin exchange-traded funds (ETFs) wasn’t just a milestone—it was a watershed moment for the industry.

“How significant was the debut year for Bitcoin ETFs?” asked Bloomberg Intelligence ETF analyst James Seyffart on X. “Absolutely MASSIVE.”

BlackRock’s iShares Bitcoin Trust (IBIT) made history as the most successful ETF launch in the U.S., amassing $52.3 billion in assets during its first year. This achievement was driven by substantial investor inflows and bitcoin’s meteoric price rise, according to Seyffart.

Other bitcoin ETFs also made waves. Fidelity’s Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin ETF (ARKB), and Bitwise Bitcoin ETF (BITB) all ranked among the top 20 ETF launches in U.S. history.

“The past year has been transformative for crypto,” said Matt Horne, head of digital asset strategists at Fidelity Investments. FBTC has grown to become Fidelity’s largest exchange-traded product, with nearly $19 billion in assets under management.

“We were optimistic about the launch, but the response exceeded even our best expectations,” Horne said. “With strong performance and asset growth, we anticipate even wider adoption among advisors and institutions.”

The Road Ahead: Crypto ETFs in 2025

While most inflows into these ETFs have come from retail investors, experts believe institutional demand is poised to grow in the coming year.

“Despite record inflows, many financial advisors and wire houses have yet to fully embrace bitcoin ETFs,” said Mark Connors, founder of Risk Dimensions. “As this changes, and with bitcoin’s price acting as a catalyst, 2025 could easily surpass 2024 in terms of inflows.”

Nate Geraci, president of the ETF Store, dubbed 2025 the “Year of Crypto ETFs.” He predicts that over 50 new ETFs could gain approval under a more crypto-friendly SEC, potentially including spot Solana, XRP products, and innovative funds tied to crypto equities or options.

“Gensler called crypto the ‘Wild West,’” Geraci wrote in The ETF Educator. “With the Trump administration’s policies in place, we’re about to see what that truly looks like for ETFs. The opportunities are boundless.”