Source: cryptoslate
Compiled by: Blockchain Knight
Last year, inflows into crypto asset-related products reached an astonishing $44.2 billion, nearly four times the historical high of $10.5 billion in 2021.
According to CoinShares' latest report, this record-breaking performance is attributed to the launch of U.S. spot exchange-traded funds (ETFs), which greatly influenced global investment.
Among them, BTC dominated, attracting $38 billion in inflows, accounting for 29% of total assets under management (AuM).
The substantial inflows into BTC also led to a significant increase in holdings of BTC ETFs, which surpassed one million within less than a year of launch.
Leading products like BlackRock's IBIT and Fidelity's FBTC attracted the most attention.
Notably, IBIT surpassed nearly 3,000 other ETFs, becoming the most successful ETF product of the past decade.
On the other hand, Grayscale's GBTC experienced the largest outflow last year, as investors withdrew over $21 billion from the fund in favor of cheaper alternatives.
Nevertheless, the positive flow of ETF products has made the U.S. the global leader in fund inflows, attracting almost all of the $44.4 billion, followed by Switzerland with $630 million.
However, there were significant outflows from Canada and Sweden, totaling $707 million and $682 million, partially offsetting the aforementioned gains.
CoinShares research director James Butterfill pointed out that the outflows indicate a shift in investment from these regions to U.S. products, highlighting the growing appeal of the U.S. crypto asset market.
Butterfill also noted that BTC climbed to a historic high of over $100,000 last year, leading to inflows of $116 million into BTC short products.
Ethereum's performance has also been outstanding, especially in the second half of this year as it resurged.
Due to the strong performance of the Ethereum spot ETF at the end of the year, this digital asset received $4.8 billion in inflows.
This inflow accounted for 26% of its total assets under management, 2.4 times the total inflow of 2021, significantly exceeding the performance of 2023.
At the same time, Ethereum's gains surpassed those of its competitor Solana, which managed $69 million in inflows, accounting for only 4% of its asset management scale.
Other large-cap tokens, such as Polkadot, Cardano, and XRP, attracted a total of $813 million, accounting for 18% of their net asset value.
Meanwhile, this year, U.S. BTC investment products started off well, with inflows reaching $666 million in the first two trading days.
According to Farside data, on January 3, inflows reached $908 million in a single day, with Fidelity leading at $357 million, followed by BlackRock and Ark Invest at $253 million and $222 million respectively.
