Crypto investment products have continued their record-breaking streak, marking a 10th consecutive week of inflows. As the crypto market experiences renewed investor enthusiasm, digital asset products have attracted significant capital, led by Bitcoin and Ethereum.
10 Consecutive Weeks of Inflows at $20.3 Billion
Digital asset investment products recorded $3.2 billion in inflows during the trading week of December 9–13, according to CoinShares’ latest weekly report. This brings total inflows over the past 10 weeks to $20.3 billion, accounting for 45% of all inflows into crypto products in 2024.
Cumulatively, the sector has seen $44.5 billion in inflows this year, highlighting a robust interest in digital assets. The previous week set a record with $3.85 billion in inflows, underscoring sustained investor appetite.
Bitcoin Leads with $2 Billion in Weekly Inflows
Bitcoin continues to dominate the crypto investment space, accounting for the majority of inflows. Bitcoin products attracted $2 billion last week, bringing total inflows since the U.S. presidential election to $11.5 billion.
Flows by assets (in millions of US dollars). Source: CoinShares
BlackRock’s iShares Bitcoin Trust emerged as a major driver, contributing $2 billion in inflows. However, Grayscale’s Bitcoin Trust saw outflows of $145 million, highlighting a shift in investor preferences. Short Bitcoin products also experienced moderate activity, with $14.6 million in inflows, although total assets under management for short BTC ETPs remain low at $130 million.
Ethereum ETPs Achieve Seventh Week of Gains
Ethereum investment products also enjoyed a strong performance, recording $1 billion in inflows last week. This marks the seventh consecutive week of positive flows into Ethereum ETPs, which have collectively garnered $3.7 billion over the past two months.
Flows by countries (in millions of US dollars). Source: CoinShares
As the second-largest cryptocurrency by market capitalization, Ethereum continues to attract investors seeking diversification beyond Bitcoin. The momentum in Ethereum ETPs highlights the growing confidence in its ecosystem.
Broader Market Momentum
The inflows reflect broader optimism in the cryptocurrency market, buoyed by Bitcoin’s recent all-time highs and increasing institutional adoption. The ongoing streak of capital inflows since October underscores the sector’s resilience and growing appeal as an asset class.
With prominent players like BlackRock entering the market and consistent inflows into both Bitcoin and Ethereum products, the cryptocurrency sector is set to close 2024 on a high note, solidifying its place in mainstream investment portfolios.
