Bitcoin ETPs Dominated Crypto Investment in 2024, Attracting $38B in Inflows

Crypto exchange-traded products (ETPs) recorded $585 million in inflows within the first three days of 2025

Crypto exchange-traded products (ETPs) saw a net inflow of $585 million in the first three days of 2025, according to CoinShares. This marked a strong start to the year, following net outflows of $75 million during the final trading days of 2024.

In total, crypto ETPs attracted a record $44.2 billion in inflows during 2024, a 320% increase compared to the previous high of $10.5 billion set in 2021. The introduction of spot Bitcoin ETFs in January 2024 was the primary driver behind these inflows.

Bitcoin ETPs Led Crypto Investment in 2024

Bitcoin exchange-traded products (ETPs) led the way in 2024, attracting $38 billion in inflows. This represented 29% of the $130 billion in total Bitcoin assets under management (AUM). The launch of spot Bitcoin ETFs in the U.S. played a major role in boosting these inflows.

ETPs tracking Ethereum also saw significant activity, with full-year inflows for Ethereum products reaching $4.8 billion, or 26% of the $18.6 billion in total Ethereum AUM. XRP-focused ETPs saw $438 million in inflows, while multi-asset products attracted $257 million.

Total ETP Assets Surged to $160.6B

By the end of 2024, the total assets under management (AUM) for crypto ETPs had surged to $160.6 billion. This growth reflected increasing global interest in cryptocurrencies as an asset class, with investments being channeled through a diverse range of products, including Bitcoin, Ethereum, XRP, and multi-asset funds.

Canada Led in Crypto ETP Outflows

While the United States saw crypto ETP inflows of $44.5 billion in 2024, Canada emerged as the largest seller. Canadian crypto ETPs recorded $707 million in outflows during the year.

Sweden and Germany also reported substantial outflows, with $682 million and $328 million, respectively. On the other hand, Switzerland and Brazil showed positive inflows, adding $630 million and $234 million to their crypto ETP markets.

Regional Trends in Crypto ETP Investments

CoinShares highlighted a mixed regional performance for crypto ETPs in 2024. The U.S. led the way in terms of purchases, largely driven by the introduction of spot Bitcoin ETFs. Meanwhile, Canada, Sweden, and Germany experienced significant outflows, reflecting varying market conditions and investor strategies.