Glassnode Delves Into Ethereum and Bitcoin ETF Flows for January 2025

Despite several positives, such as President Donald Trump's inauguration and the resulting pro-crypto regulatory shifts, January 2025 was a turbulent month for crypto, filled with several wild price swings.

Crypto analytics firm Glassnode has offered some insight into how investors reacted to a turbulent January 2025 in crypto, with some interesting takeaways from spot Bitcoin and Ethereum exchange-traded fund (ETF) data.

Despite January’s price volatility, there was no major shift in Bitcoin investor sentiment, at least according to ETF flows for the month.

Per Glassnode data shared on Monday, these investment products saw net inflows totaling about 45,100 BTC—worth about $4.26 billion at current prices—in January 2025, only slightly less than the 45,600 BTC (about $4.3 billion) seen in December 2024.

As highlighted by the firm, BlackRock maintained its record of seeing the most inflows with about 26,100 BTC (worth about $2.5 billion), followed by Fidelity with 12,400 BTC (about $1.2 billion). Notably, Grayscale saw outflows of 4,000 BTC (about $378 million).

Meanwhile, interest in Ethereum ETF products took a massive nosedive in January 2025, with net inflows to spot Ethereum ETFs dropping from over 544,000 ETH (worth roughly $1.4 billion) to below 11,000 ETH (about $27 million).

The dive was driven by significant outflows from products issued by Grayscale, Fidelity, and Bitwise. The products issued by these firms saw outflows of 73,000 ETH (worth over $187 million), 43,000 ETH (over $110 million), and 17,000 ETH (about $43.6 million), respectively.

This wave of outflows was only offset by over 145,000 ETH (nearly $372 million) in inflows recorded by BlackRock.

The crypto market is off to another rocky start in February 2025 following President Donald Trump’s tariff decision.