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US spot Bitcoin ETFs have contributed to 100% of the record-breaking $44.2 billion crypto ETF inflows in 2024, according to CoinShares.
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Cryptocurrency investment products are off to a good start in 2025, with global crypto exchange-traded products (ETP) posting $585 million of inflows in the first three days of the year.
The early inflows did not offset heavy selling in the last two trading days of 2024, during which crypto ETPs saw $75 million in net outflows in the full previous trading week, crypto investment firm CoinShares reported on Jan. 6.
Despite the late-year dip, 2024 closed as a record-breaking year for crypto ETFs, with $44.2 billion in inflows — a 320% increase from the previous record of $10.5 billion set in 2021.
The historic launch of spot Bitcoin exchange-traded funds (ETF) in the United States in January 2024 contributed to the bulk of inflows, CoinShares’ head of research, James Butterfill, said in the update.
Bitcoin dominated ETF inflows at 29%
Bitcoin (BTC) ETPs dominated in 2024, with $38 billion in inflows, accounting for 29% of $130 billion of BTC in total assets under management (AUM).
Ether (ETH)-based ETPs saw a resurgence in late 2024, bringing full-year inflows to $4.8 billion, or 26% of all $18.6 billion ETH in AUM.
Flows by assets in the past four years (in millions of US dollars). Source: CoinShares
Related: 3 crypto predictions going into 2025: SOL ETFs, AI trading, new threats
Total AUM for all crypto ETPs amounted to $160.6 billion in 2024, also contributed by $438 million inflows in XRP (XRP) products and $257 million inflows in multi-asset ETPs, according to CoinShares data.
Canada was the largest crypto ETP seller in 2024
While the US was the largest crypto ETP buyer, with $44.5 billion in inflows coming from the country, Canada has emerged as the biggest crypto ETP seller in 2024.
According to CoinShares, Canadian crypto ETPs saw $707 million in outflows in 2024. Countries like Sweden and Germany also posted $682 million and $328 million in crypto ETP outflows last year, respectively.
Flows by countries in the past four years (in millions of US dollars). Source: CoinShares
Crypto ETF outflows in Canada, Sweden and Germany wiped out the inflows from countries like Switzerland and Brazil, which saw $630 million and $234 million in inflows, respectively.
Magazine: Ether may ‘struggle’ in 2025, SOL ETF odds rise, and more: Hodler’s Digest, Dec. 29 – Jan. 4
This article first appeared at Cointelegraph.com News
