Crypto investments controlled by asset managers like Fidelity, BlackRock, Bitwise, 21Shares, and Grayscale have maintained a 10-week streak of net inflows. According to the CoinShares report, the cumulative inflow stood at $3.2 billion.
Record-Breaking Year for Crypto Investments
James Butterfill, CoinShares Head of Research, highlighted that the inflows have helped drive the year-to-date figures to $44.5 billion. This marks a significant record that represents over four times the level registered in any other prior years.
Butterfill noted that, on average, exchange-traded products (ETP) have attained an average of $21 billion weekly.
📈 Digital asset investment products saw inflows of US$3.2bn last week, the 10th consecutive week of inflows, bringing the year-to-date total to US$44.5bn. #Bitcoin investment products saw inflows of US$2bn and #Ethereum saw inflows of US$1bn for the 7th consecutive week.
🌍 The… pic.twitter.com/QVK0M8l70c
— CoinShares (@CoinSharesCo) December 16, 2024
Of this amount, 30% comprised Bitcoin, traded on main exchanges. All investment types of Bitcoin on main exchanges registered an average of $8.3 billion daily in 2024. This record is twice that of the FTSE 1000.
Meanwhile, the 12 U.S. spot Bitcoin exchange-traded funds (ETFs) added $2.17 billion in cumulative inflows last week alone. The ETFs have extended their unbroken positive net inflows to 12 trading days.
The sum now stands at $5.3 billion, 15% of the $35.8 billion cumulative net inflows generated since January when they launched.
Geographical Inflow Trends
Analysts at Bernstein, a research and brokerage firm noted that Bitcoin ETF demand has been on a continuous surge. Last week, the inflows exceeded $2 billion. In the last nine weeks, Bitcoin ETFs have surpassed $2 billion in net inflows.
Regarding geographical flows, U.S.-based funds led with $3.14 billion of inflows. Meanwhile, Switzerland registered a weekly net inflow of $35.6 million. Others include Germany and Brazil, which have inflows of $32.9 million and $24.7 million, respectively.
Butterfill considers these figures a positive testament to the sentiments in the broader crypto sector. According to him, Bitcoin-based funds have raked in $11.5 billion since Donald Trump’s electoral victory.
Outlook for Altcoins
In the interim, Ethereum-based funds have picked up momentum and logged their seventh week of consecutive inflows. Bitterfill says the Ethereum funds added $1 billion to $3.7 billion for the period under consideration.
Another altcoin, XRP investment products, registered net inflows of $145 million last week as anticipation builds for ETF approval in the U.S.
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