For the global cryptocurrency market, 2024 is definitely an epoch-making turning point. According to CoinShares statistics, cryptocurrency investment products launched by asset management giants such as BlackRock and Fidelity recorded a net inflow of up to US$44.2 billion in 2024, nearly four times the previous high of US$10.5 billion in 2021.
James Butterfill, head of research at CoinShares, pointed out in the latest weekly report that at the beginning of 2025, global cryptocurrency funds have recorded a net inflow of US$585 million, but if the data from the last two days of 2024 are also included, last week actually experienced a net outflow of US$75 million, indicating that some funds are taking profits.
The listing of Bitcoin and Ethereum spot ETFs in the United States has become the focus, with strong money-making power
2024 can be said to be a breakthrough year for the US cryptocurrency market. Bitcoin and Ethereum spot ETFs have been approved for listing one after another, attracting a total of US$44.4 billion in the whole year. In addition, Switzerland's cryptocurrency investment products also recorded a net inflow of US$630 million in 2024.
However, cryptocurrency funds in Canada and Sweden saw net outflows of $707 million and $682 million respectively last year. James Butterfill said this was mainly because investors turned to the U.S. market, and some investors chose to take profits at high points.
Bitcoin funds dominate the market, while Ethereum products rebound against the trend at the end of the year
Bitcoin investment products remain the biggest winners in the market, attracting net inflows of up to $38 billion in 2024, accounting for 29% of the total assets managed by Bitcoin funds in history.
In addition, despite the sharp rise in Bitcoin prices, investors still invested $108 million in "short Bitcoin" products. Although the figure is slightly lower than the $116 million in 2023, it reflects the defensive layout of some investors against potential market risks.
On the other hand, Ethereum-related funds made a strong comeback at the end of 2024, attracting US$4.8 billion throughout the year, 2.4 times that of 2021 and 60 times that of 2023, becoming another highlight of the market.
In addition to Bitcoin and Ethereum, Ripple (XRP)-related funds recorded a net inflow of US$438 million in 2024, ranking third; Solana (SOL)-related products attracted US$69 million in inflows.