A recent CoinShares report published by the asset management firm’s Head of Research, James Butterfield, revealed that digital asset investment products had begun the year on a high note, garnering $585 million in net inflows. The report also shared that Bitcoin still dominated the crypto exchange-traded funds, accounting for about $573 million of the Bitcoin assets under management in global ETPs.
Butterfield further noted in the report that global crypto ETPs recorded about $44.4 billion in net inflows in 2024. CoinShares explained that Bitcoin ETPs dominated the digital asset investment products markets in 2024, accounting for about 29% and $38 billion of all BTC assets under management in global ETPs.
Ethereum ETPs came in second, accounting for about $4.5 billion of global crypto ETP inflows last year, accounting for about 26% of all Ethereum assets under management global ETPs. The value was also about 60x more than Ethereum inflows recorded in the ETPs in 2023 and 2.4x more than what was recorded in 2021.
Other altcoins registered net inflows of $813 million in 2024, accounting for 18% of all non-ETH altcoin assets under management in crypto investment products. Solana was among the top coins among the other altcoins, recording a $69 million inflow in 2024 and 4% of its total assets under management.
The total inflows recorded in 2024 increased above the all-time high experienced in the 2021 bull market. Global crypto investment products reached over $10 billion in net inflows in 2021. The 2024 statistics indicate an over 4x increase compared to the 2021 values.
U.S. spot ETFs contribute to the 2024 surge
2024 saw US$44bn inflows in to crypto ETPs, 2025 off to a good start with US$585m inflows so farhttps://t.co/OczGDBUdph
— James Butterfill (@jbutterfill) January 6, 2025
Butterfield attributed the surge in 2024’s global crypto investment products net inflows to the introduction of spot ETFs in the U.S. in January 2024. The U.S. Securities and Exchange Commission approved 11 Bitcoin spot ETFs on January 10 and 8 Ether spot ETFs on May 22. The Bitcoin ETFs have accounted for a greater percentage of the inflows recorded since their introduction in 2024.
The report highlighted that inflows recorded by digital asset investment products were solely from U.S.-based spot ETFs. The CoinShares head of research explained that the surge in U.S. spot ETFs indicates the products’ impact on other crypto investment products. Butterfield also revealed that the ETFs would change the path crypto investment flows took in the future.
The asset management firm’s executive also touched on the recent resurgence seen by Ethereum ETFs at the end of 2024. The ETFs had seen significant outflows before rebounding within the last days of the year. Butterfield suggested that the recovery indicated ETH’s evolution in the digital assets market.
CoinShares’ statistics for this year’s net flows indicate that U.S. spot ETFs are still the top performers in the ETP industry. The report also showed that Australia and Switzerland are still showing promise, with about $1.1 million and $8.4 million in inflows, respectively.
Galaxy Digital expects U.S. Bitcoin spot ETPs to hit $250 billion in 2025
A Galaxy Digital report from December 31, 2024, predicted the possible trajectory of U.S. spot ETPs in 2025. The report suggested that the U.S. Bitcoin spot ETPs would hit $250 billion in assets under management in 2025. Alex Thorne, Head of Firmwide Research, highlighted in the report that the ETPs were about 19% and $24 billion away from reaching the U.S. gold ETPs.
Throne also predicted that Bitcoin would be among the top-performing assets this year. The head of Firmwide Research revealed that the coin remained one of the top 3 performers on a risk-adjusted basis. Thorne further mentioned that his predictions were based on 2024’s Bitcoin and BTC ETPs performances.
Another analyst, Christine Kim, revealed that Ether spot ETPs would also likely surge in 2025. According to Kim, the ETPs might get the opportunity to stake some of their Ether for investors. The analyst suggested that the development would come due to possible regulatory changes under Donald Trump’s administration.
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