Étienne Girard
Global cryptocurrency funds managed by prominent asset managers like BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares experienced a record-breaking influx of $44.2 billion in net inflows last year, according to CoinShares. This marks a dramatic increase from the previous peak of $10.5 billion in 2021, nearly quadrupling the previous record.
As of the early days of 2025, digital asset investment products are off to a positive start, attracting $585 million in net inflows. However, despite these positive figures, CoinShares Head of Research, James Butterfill, reported a slight dip in the last two days of 2024, with net outflows of $75 million recorded overall for that period.
A key highlight in 2024 was the approval and launch of the first-ever spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the United States, which collectively brought in $44.4 million. Meanwhile, Switzerland saw $630 million in net inflows into its crypto investment products. However, this positive growth was offset by net outflows from funds in Canada and Sweden, which saw outflows of $707 million and $682 million, respectively, as investors shifted to U.S.-based products and, in some cases, took profits.
Bitcoin Products Lead, Ethereum Sees Late-Year Surge
Bitcoin-focused products dominated the crypto investment landscape, generating $38 billion in net inflows, accounting for 29% of all-time Bitcoin assets under management across the funds. Additionally, short-bitcoin products saw $108 million in investments, despite a slight decrease from the previous year’s $116 million.
Although Ethereum investment products had experienced underperformance earlier in the year, they made a strong comeback towards the end of 2024, bringing annual net inflows to $4.8 billion, a remarkable increase of 2.4 times compared to 2021, and 60 times higher than 2023.
Notable Inflows for XRP and Solana-Based Products
Funds based on XRP garnered significant interest, bringing in $438 million in net inflows, making it the third-largest asset by inflows in 2024. In contrast, Solana-based investment products attracted $69 million.
