Global digital asset investment products hit a record $44.2 billion in inflows in 2024, nearly quadrupling the previous high of $10.5 billion set in 2021, according to a CoinShares report on Monday.

The surge was largely fueled by the introduction of U.S. spot-based ETFs, which accounted for 100% of these inflows.

What Happened: James Butterfill, Head of Research at CoinShares, emphasized the significance of the milestone saying, “The record-breaking inflows underscore the transformative impact of U.S. spot-based ETFs, reshaping global investment flows.”

Bitcoin BTC/USD dominated the year, drawing $38 billion in inflows and accounting for 29% of total assets under management (AuM).

Despite significant price increases, short-bitcoin investment products also garnered $108 million in inflows, reflecting diverse market sentiment.

Ethereum ETH/USD experienced a notable resurgence, particularly in late 2024, attracting $4.8 billion in inflows—2.4 times its 2021 total and a staggering 60-fold increase over 2023.

Butterfill highlighted Ethereum’s late-year performance: “Ethereum’s resurgence demonstrates its evolving role in the digital asset space, capturing renewed investor interest.”

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Altcoins, excluding Ethereum, saw more modest inflows of $813 million, representing 18% of AuM.

Among these, Solana SOL/USD recorded $69 million in inflows, accounting for only 4% of its total AuM.

Globally, the landscape revealed divergent trends.

While Switzerland saw $630 million in inflows, Canada and Sweden experienced significant outflows of $707 million and $682 million, respectively, as investors pivoted toward U.S.-based products or locked in profits.

What’s Next: The report also notes a strong start to 2025, with $585 million in inflows recorded in the first three days of the year, even as net outflows of $75 million were observed in the final two trading days of 2024.

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