Gary Gensler once likened crypto to the “Wild West,” but under the Trump administration, the ETF frontier might become even more adventurous and transformative.
The first year for spot bitcoin exchange-traded funds (ETFs) was nothing short of revolutionary, shattering all expectations and setting new benchmarks for the industry.
“How impactful was 2024 for Bitcoin ETFs?” asked Bloomberg Intelligence ETF analyst James Seyffart on X. “Simply MASSIVE.”
BlackRock’s iShares Bitcoin Trust (IBIT) led the charge, achieving a record-breaking $52.3 billion in assets under management by year-end. This unprecedented success marked the largest ETF launch in U.S. history, driven by surging demand and bitcoin’s strong performance.
Other heavyweights, including Fidelity’s Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin ETF (ARKB), and Bitwise Bitcoin ETF (BITB), followed suit, ranking among the top 20 ETF launches of all time.
“2024 was a landmark year for crypto adoption,” said Matt Horne, head of digital asset strategists at Fidelity Investments. FBTC now manages nearly $19 billion in assets, making it Fidelity’s largest ETF offering.
“The launch exceeded our highest expectations, driven by demand across all investor categories,” Horne said. “We’re excited to see even broader adoption in 2025 as the market matures.”
What Lies Ahead for 2025?
While retail investors powered the historic inflows last year, analysts believe 2025 will bring significant institutional participation.
“Despite 2024’s record numbers, many financial institutions and advisors have yet to fully engage with crypto ETFs,” said Mark Connors, founder of Risk Dimensions. “With institutional adoption gaining momentum and bitcoin’s price acting as a tailwind, 2025 could easily outshine 2024.”
Nate Geraci, president of the ETF Store, forecasts that 2025 could be the “Year of Crypto ETFs.” He expects over 50 new funds to gain regulatory approval, including spot ETFs for Solana and XRP, as well as specialized products linked to crypto options and equities.
“Under the previous SEC leadership, crypto was often seen as a ‘Wild West,’” Geraci wrote in The ETF Educator. “But with the new administration in place, 2025 could unleash a wave of innovation that transforms the ETF landscape forever.”
