Laser Digital’s Take on Spot Bitcoin ETFs in 2025
Spot Bitcoin ETFs made waves in 2024, with BlackRock’s iShares Bitcoin Trust (IBIT) stealing the spotlight. The fund amassed $53 billion in assets over 11 months, breaking records across the ETF market.
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IBIT now controls a higher volume of assets than BlackRock’s gold ETF, the second-largest of its kind worldwide.
Laser Digital, Nomura’s digital asset arm, believes IBIT could surpass SPDR Gold Shares in scale, assuming Bitcoin’s price holds steady.
Source: laserdigital.com
Since its debut, IBIT has seen outflows on only nine occasions, the largest of which was in early January 2025, when $333 million exited the fund. This has led to growing sentiment that Bitcoin might be consolidating before its next bull run.
Additionally, 11 Bitcoin ETFs in the U.S. have faced a combined $2 billion in outflows since December 19, with a 20% decline in open interest. Analysts largely attribute this to portfolio rebalancing at the close of the year.
A Look at 2025
In 2025, regulators are expected to consider over a dozen new crypto ETFs, such as a ProShares fund tracking S&P 500 returns in Bitcoin.
Upcoming offerings also include a Bitcoin-Ethereum combo ETF and funds dedicated to Litecoin, Hedera, XRP, and Solana. SEC Chair Paul Atkins has taken a supportive stance toward digital assets, viewing Bitcoin as a commodity. This shift could ease regulatory challenges and open doors for the next generation of crypto funds.
While Ethereum ETFs initially lagged behind Bitcoin products, they’ve gained traction post-election, attracting over $1.7 billion in net inflows. This growth highlights increasing confidence from institutional investors, though funds linked to Ripple or Solana remain popular alternatives.
Cryptocurrency demand isn’t confined to the U.S.; countries like the UAE, Hong Kong, Singapore, and key European markets are working to create supportive regulatory environments for digital assets.
Institutional investment in crypto is also expanding, with crypto ETFs becoming more prominent in 13F filings. These quarterly reports, required by the SEC, reveal holdings from major institutional players, including endowments, pensions, and hedge funds.
2025 — A Promising Year Ahead
As Donald Trump takes office again and Paul Atkins assumes leadership at the SEC, market experts anticipate significant growth for spot Bitcoin ETFs and the crypto industry in 2025.
The total value of the cryptocurrency market has surged to $3.4 trillion, thanks to long-term Bitcoin holders who now account for 69% of its supply. Laser Digital highlights that this upward trend, combined with regulatory clarity on a global scale, is likely to amplify institutional interest in crypto ETFs.
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