What’s driving the positive momentum in ETF inflows for BTC and ETH?

Author: André Beganski, Decrypt; Compiler: Baishui, Golden Finance

Bitcoin and Ethereum ETFs saw combined inflows of $1.1 billion on Monday, building on positive momentum after spot funds saw $320 million in inflows at the start of the year.

Despite losses at the start of the year, spot Bitcoin and Ethereum ETFs saw two consecutive days of positive inflows, and they have attracted a combined $1.75 billion by 2025, according to CoinGlass data.

Last year, investors poured $38 billion into these products following their Wall Street debut, a development that makes it easier for financial market participants to gain exposure to the leading cryptocurrency through traditional brokerage accounts in the United States.

Experts hailed the launch of spot Bitcoin ETFs as a historic success, but nearly a year after their approval, the products are having their best days yet in 2025.

Last year, daily inflows into spot Bitcoin ETFs exceeded $900 million only four times. On Friday and Monday, they attracted $907 million and $978 million, respectively.

Bitwise senior investment strategist Juan Leon attributed the inflows to the imminent return of President-elect Donald Trump. Leon told Decrypt that investors may be allocating money to spot cryptocurrency ETFs in anticipation of his pro-crypto administration taking over the White House in less than two weeks.

“People are really excited about what this administration has been able to accomplish in terms of the [pro-crypto] regulatory agenda,” he said. "We're seeing a lot of pro-crypto people in the Trump administration, whether it's the SEC or the Treasury."

Over the past three trading days, inflows have been concentrated in the Fidelity Wise Origin Bitcoin Fund (FBTC), a departure from the dominance of BlackRock's iShares Bitcoin Trust (IBIT), which hit new highs last year.

Since the start of the trading year, IBIT has attracted $110 million. Meanwhile, FBTC has attracted $763 million, with $370 million on Monday, the third-highest single-day inflow on record.

Last year, IBIT withstood daily outflows only eight times as the product attracted nearly $37 billion during 2024. Thursday's outflow of $332 million exceeded all negative outflow days last year combined.

With spot Bitcoin ETFs seeing strong inflows on Monday, the asset climbed above $100,000 for the first time this year after topping $108,000 in December. However, the asset’s price had fallen 5% on Tuesday to just under $97,000 as of writing.

The two-day inflow streak was less eye-popping for spot Ethereum ETFs, which have attracted $110 million so far through 2025, following Friday’s $77.5 million outflow.