Bitwise Strategist: What Makes ETF Inflows Positive for BTC and ETH

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 together they have attracted $1.75 billion through 2025, according to CoinGlass.

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, spot bitcoin ETFs saw daily inflows exceeding $900 million only four times. On Friday and Monday, they attracted $907 million and $978 million, respectively.

Juan Leon, senior investment strategist at Bitwise, attributed the inflows to the impending return of President-elect Donald Trump. Leon told Decrypt that investors are likely allocating funds to spot cryptocurrency ETFs in anticipation of his pro-crypto government taking over the White House in less than two weeks.

“There’s a lot of excitement about what this administration has been able to accomplish in terms of a [supportive cryptocurrency] regulatory agenda,” he said. “We’ve seen a lot of supportive crypto picks in the Trump administration, whether it’s the SEC or the Treasury Department.”

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 a new high last year.

IBIT has attracted $110 million since the start of the trading year. Meanwhile, FBTC has attracted $763 million, with $370 million inflows 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 $332 million outflow 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, as of writing, the asset’s price had fallen 5% on Tuesday to just under $97,000.

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