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Ruholamin Haqshanas
Author
Ruholamin Haqshanas
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Digital asset investment products saw $3.2 billion in fresh investments in the past week, marking the 10th consecutive week of positive inflows.
According to a report from CoinShares, the figure has pushed the total for 2024 to an impressive $44.5 billion, which is more than four times the total inflows recorded in any previous year.
Trading activity in exchange-traded products (ETPs) has also seen a notable surge, with weekly trading volumes for ETPs averaging $21 billion, representing 30% of bitcoin’s volume on trusted exchanges.
US Leads in Inflows
Geographically, inflows were recorded across all major regions. The United States led with $3.1 billion in inflows, followed by:
- Switzerland ($36 million)
- Germany ($33 million)
- Brazil ($25 million)
Capital Inflow Split by Coins
Bitcoin investment products were the primary beneficiaries, pulling in $2 billion for the week.
Since the U.S. election, Bitcoin inflows have totaled $11.5 billion. Short Bitcoin products saw $14.6 million in inflows, driven by recent price movements, although the total assets under management (AuM) for short Bitcoin products remain low at $130 million.
Ethereum’s strong momentum continued for a seventh week, attracting $1 billion in fresh investments.
Over the seven weeks, Ethereum inflows have reached $3.7 billion, reflecting a renewed wave of investor optimism in the asset.
Other altcoins also posted gains, with XRP seeing $145 million in inflows amid rising expectations for a U.S.-listed XRP ETF.
Polkadot and Litecoin registered inflows of $3.7 million and $2.2 million, respectively, indicating a broader interest in alternative digital assets.
Meanwhile, the Grayscale Bitcoin Trust (GBTC) has experienced significant outflows. Since its launch on January 11, the fund has recorded $21.045 billion in total outflows, making it the only spot Bitcoin ETF in the U.S. to post a negative net investment flow.
Over the past 11 months, GBTC’s daily outflows have averaged $89.9 million, according to data from Farside Investors.
In contrast, other spot Bitcoin ETFs in the U.S. have maintained positive balances.
Collectively, nine newly approved spot Bitcoin ETFs, including those from Fidelity, ARK 21Shares, Invesco, and WisdomTree, have attracted $20.737 billion in inflows.
BlackRock’s iShares Bitcoin Trust (IBIT) leads the pack with total inflows of $35.883 billion, drawing $153.3 million in daily investments since its inception.
Market For Spot Bitcoin ETFs Remain Strong
The overall market for spot Bitcoin ETFs remains strong, with total investments surpassing $35.5 billion in under a year.
Grayscale’s Ethereum Trust ETF (ETHE) has seen a similar trend to its Bitcoin counterpart, reporting over $3.5 billion in outflows since its launch on July 23. In contrast, other spot Ether ETFs have seen positive inflows.
BlackRock’s iShares Ethereum Trust ETF (ETHA) and Fidelity’s Ethereum Fund (FETH) lead the pack with inflows of $3.2 billion and $1.4 billion, respectively.
