For the global cryptocurrency market, 2024 is undoubtedly a historic turning point. According to CoinShares statistics, cryptocurrency investment products launched by asset management giants like BlackRock and Fidelity recorded up to 44.2 billion USD in net inflows throughout 2024, nearly four times the previous high of 10.5 billion USD set in 2021.
CoinShares Research Director James Butterfill pointed out in the latest weekly report that the global cryptocurrency funds recorded a net inflow of 585 million USD at the start of 2025. However, if we include the data from the last two days of 2024, there was actually a net outflow of 75 million USD last week, indicating that some funds are taking profits.
U.S. Bitcoin and Ethereum spot ETFs have become the focus, with strong capital attraction.
The year 2024 can be said to be a breakthrough year for the U.S. cryptocurrency market, with Bitcoin and Ethereum spot ETFs being consecutively approved for listing, collectively attracting 44.4 billion USD throughout the year. Additionally, Switzerland's cryptocurrency investment products recorded a net inflow of 630 million USD in 2024.
However, cryptocurrency funds in Canada and Sweden saw net outflows of 707 million USD and 682 million USD respectively last year. James Butterfill stated that this is mainly because investors are turning to the U.S. market, and some investors have chosen to take profits at high points.
Bitcoin funds dominate the market, with Ethereum products rebounding against the trend by the end of the year.
Bitcoin investment products remain the biggest winners in the market, attracting up to 38 billion USD in net inflows in 2024, accounting for 29% of the total assets ever managed by Bitcoin funds.
Furthermore, despite the significant rise in Bitcoin prices, investors still put in 10.8 million USD in 'short Bitcoin' products, although this number is slightly lower than the 11.6 million USD in 2023, reflecting a defensive layout by some investors against potential market risks.
On the other hand, Ethereum-related funds made a strong comeback at the end of 2024, attracting 4.8 billion USD throughout the year, which is 2.4 times that of 2021 and 60 times that of 2023, making it another highlight in the market.
In addition to Bitcoin and Ethereum, Ripple (XRP) related funds recorded a net inflow of 438 million USD in 2024, ranking third; Solana (SOL) related products attracted 69 million USD in inflows.
"Bitcoin ETF becomes the biggest winner! Global cryptocurrency funds attracted 44.2 billion USD in 2024, setting a new record" was first published in (Blockke).
