Spot Bitcoin ETFs Stay Hot in January, Tether Reports $13B in Profits, and Sacks Looks Forward to ‘Golden Age' for Crypto

Takeaways

• US spot bitcoin ETFs recorded $5.25 billion in net inflows in January, surpassing December’s total: BlackRock and Fidelity led the pack with a bulk of the inflows. And analysts believe 2025 will be another big year for crypto ETFs.
• Crypto Czar David Sacks says crypto will soon enter “golden age:” Sacks and legislators held a press conference in Washington DC this week to re-affirm their plans for crypto in the upcoming administration, with stablecoin legislation up first.
• Monochrome Group has launched the first Australian Bitcoin and Ethereum spot ETFs in Singapore, catering to institutional investors under MAS regulations: The move highlights the global adoption of spot crypto ETFs.
• Tether reported a record net profit of over $13 billion in 2024, driven by strategic investments in Bitcoin and other assets: The company's financial position makes clear the growing role of stablecoins in the global crypto ecosystem.

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US Spot Bitcoin ETFs Bring In More Than $5B in January

Spot bitcoin ETFs in the US saw a significant surge in net inflows, reaching $5.25 billion in January, surpassing December’s $4.53 billion total. BlackRock’s IBIT led the market with $3.23 billion in inflows, while Fidelity’s FBTC followed with $1.28 billion, highlighting strong investor demand. The total net assets of IBIT rose to $59.39 billion, marking an increase of $7.67 billion, while FBTC expanded to $21.76 billion.

Initial bullish crypto sentiment following Trump’s re-election has waned due to the absence of a specific outline for crypto policies for the newly christened administration. Spot crypto ETFs, however, have continued to gain momentum. Last week, the SEC authorized trading for a Bitwise spot hybrid bitcoin-ethereum ETF on the New York Stock Exchange.

There could soon be a surge of crypto-related ETFs to hit US markets in 2025. Last week, Grayscale filed to turn a $16 million XRP trust into a much-anticipated XRP spot ETF. And speculation is growing that a Solana ETF could be approved in 2025, with odds site Polymarket predicting an 83% chance of approval by the new crypto-friendly regime by the end of 2025.

US Crypto Czar Says ‘Golden Age’ for Crypto is Coming

US crypto czar David Sacks held a press conference in Washington DC on Tuesday with members of the House and Senate committees to reiterate the administration’s early plans for digital asset policies.

“I look forward to working with each of you in creating a golden age in digital assets,” Sacks said.

The group said the first priority would be passing long-awaited stablecoin legislation, arguing it would strengthen the dollar and help lower long-term interest rates. Earlier in the day, Sen. Bill Hagerty (R-Tenn.), Cynthia Lummis (R-WY), and Tim Scott (R-Neb.) introduced a new stablecoin bill that offers a regulatory framework for the market.

The news came after bitcoin and the broader crypto market plunged Monday as investors reacted to President Donald Trump’s tariff threats, sparking fears of a trade war. Bitcoin dropped to $91,441.89 at the start of the week as the market absorbed the news before inching higher again after he reached deals with Canada and Mexico to help stem the influx of illegal immigrants and fentanyl into the US.

Sacks also reiterated Tuesday he would soon begin studying the feasibility of a strategic US crypto reserve after Trump issued an executive order last week to set up a working group to study the issue.

Monochrome Expands to Singapore with First Australian Bitcoin and Ethereum ETFs

Australian crypto firm Monochrome Group has secured registration for its Bitcoin (IBTC) and Ethereum (IETH) ETFs with Singapore’s Monetary Authority (MAS), marking a significant step toward institutional adoption in Southeast Asia. These ETFs, available exclusively to accredited investors, offer both bitcoin and cash subscriptions, aligning with growing institutional demand for regulated crypto exposure.

Monochrome has also reportedly partnered with Anadara Capital to bolster institutional services and onboarded BitGo Trust Company for custody solutions. The firm has said that it plans to expand its regional presence in 2025 while navigating regulatory frameworks.

With Asia emerging as a crypto regulatory hub, Monochrome’s MAS-approved ETFs now provide a model for mainstream crypto integration. Their route to approval could allow similar businesses to follow-suit when navigating the complex regulatory requirements for this type of investment product.

Tether Records More Than $13B Billion in Profit in 2024

Tether, the issuer of the USDT stablecoin, achieved a net profit exceeding $13 billion in 2024. The company made approximately $7 billion from holdings in US Treasuries and repurchase agreements. Additionally, Tether posted around $5 billion in unrealized gains from investments in gold and bitcoin.

Tether's assets included nearly 84,000 BTC by the end of the year, while the company's total assets reached $143.7 billion, with liabilities amounting to $136.6 billion. Tether remains the largest stablecoin, with a market capitalization of around $134 billion. Despite facing regulatory challenges, Tether continues to expand its market presence. Its closest competitor, Circle (USDC), has a market capitalization of around $55 billion.

-The Gemini Team