Crypto exchange-traded products (ETPs) saw $585 million in inflows in the first three days of 2025, according to CoinShares data.
Crypto exchange-traded products (ETPs) saw $585 million in inflows in the first three days of 2025, according to CoinShares data. However, this strong start was not enough to offset a dip at the end of 2024, with crypto ETPs experiencing $75 million in net outflows the last week of the year. Despite the late-year drop, 2024 proved to be a historic year for crypto ETFs, with total inflows reaching $44.2 billion, marking a 320% increase from the previous record of $10.5 billion set in 2021.
A major driver behind this growth was the launch of spot Bitcoin exchange-traded funds (ETFs) in the U.S. in January 2024. These U.S. Bitcoin ETFs were key to the surge in investments, with Bitcoin ETPs alone attracting $38 billion, or 29% of Bitcoin’s total $130 billion in assets under management (AUM). Ethereum ETPs also performed well, bringing in $4.8 billion in inflows, which accounted for 26% of Ethereum's AUM of $18.6 billion.
XRP and multi-asset ETPs also contributed to the positive growth in 2024, with $438 million and $257 million in inflows, respectively. As a result, the total AUM for all crypto ETPs reached $160.6 billion by the end of 2024.
While the U.S. was the largest buyer of crypto ETPs, with $44.5 billion in inflows, the year saw significant outflows in other regions. Canada was the biggest seller, with $707 million in outflows, followed by Sweden at $682 million and Germany at $328 million. These outflows outweighed the inflows from countries like Switzerland, which saw $630 million, and Brazil, which posted $234 million.
The mixed performance across different regions highlights the varying outlook on crypto investments globally. While the U.S. remains bullish, some markets, especially in Canada and parts of Europe, showed a more cautious approach. Despite this, the overall global crypto ETP market reached new heights in 2024, with the historic launch of Bitcoin ETFs playing a central role in the record inflows.
As 2025 progresses, the industry is still feeling the effects of these outflows, but the early 2025 inflows suggest that investor confidence remains high, despite some uncertainty in certain regions. Crypto ETPs have started the new year on a positive note, though it remains to be seen whether the momentum can be sustained throughout the year.
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