From CoinShares Research Blog by James Butterfill

2024 saw US$44bn inflows, 2025 off to a good start with US$585m inflows so far

Digital asset investment products saw US$585m of inflows for the first 3 days of this year, although for the full week, which includes the last two trading days of 2024 saw net outflows totalling US$75m.

The conclusion of 2024 marked a record US$44.2bn of inflows globally, almost 4x the prior record set in 2021 which saw US$10.5bn inflows. Marked by the entrance of US spot-based ETFs, which saw 100% of the inflows at US$44.4bn. Although other countries saw inflows such as Switzerland at US$630m, this was offset by large outflows from Canada and Sweden at US$707m and US$682m respectively as investors switched to US-based products and in some cases took profits.

Bitcoin dominated 2024, seeing US$38bn inflows representing 29% of total assets under management (AuM). Despite the prices rises short-bitcoin investment products saw inflows of US$108m, but less than in 2024 where is saw US$116m inflows.

Ethereum saw a resurgence in late 2024, bringing full year inflows to US$4.8bn (26% of AuM), 2.4x the total seen in 2021 and 60x the inflows in 2023. Ethereum eclipsed Solana, which saw inflows of US$69m, only 4% of AuM.

Altcoins (ex ETH) saw inflows of US$813m in 2024, representing just 18% of AuM.