Global crypto investment products hit record $44 billion net inflows in 2024: CoinShares

Global crypto funds run by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares registered a record $44.2 billion in net inflows last year — nearly four times the prior $10.5 billion annual peak in 2021 — according to CoinShares.

Digital asset investment products are also off to a good start in 2025, generating $585 million in net inflows, CoinShares Head of Research James Butterfill noted in a Monday report. However, including the final two days of 2024, last week saw net outflows of $75 million overall, Butterfill said.

Weekly crypto asset flows. Images: CoinShares.

2024 was marked by the approval and launch of U.S. spot Bitcoin and Ethereum exchange-traded funds for the first time, attracting $44.4 million in combination. Crypto investment products in Switzerland also registered $630 million worth of net inflows for the year. However, net annual outflows of $707 million and $682 million from Canada and Sweden-based funds offset the overall figure as investors switched to U.S.-based products and, in some cases, took profits, Butterfill said.

Bitcoin funds dominate while Ethereum investment products see late-2024 resurgence

Bitcoin-based products dominated globally, generating $38 billion of the net inflows and accounting for 29% of all-time bitcoin assets under management at the funds. Short-bitcoin products also attracted $108 million worth of investments amid the 2024 price rise, though this was down slightly from $116 million the year before.

Despite long periods of underperformance, Ethereum-based products saw a resurgence in late 2024, Butterfill noted, bringing annual net inflows to $4.8 billion — 2.4 times 2021’s total and 60 times 2023’s figure.

XRP-based funds generated the third-largest single asset net inflows of 2024 with $438 million, while Solana investment products attracted $69 million.