比特幣 ETP 在 2024 年主導加密貨幣投資，吸引了 38B 美元的資金流入

2025 年前三天，加密貨幣交易所交易產品 (ETP) 流入量達 5.85 億美元

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.

根據 CoinShares 的數據，加密貨幣交易所交易產品 (ETP) 在 2025 年前三天淨流入 5.85 億美元。繼 2024 年最後交易日淨流出 7,500 萬美元之後，這標誌著今年的強勁開局。

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.

總的來說，加密貨幣ETP 在2024 年吸引了創紀錄的442 億美元資金流入，與2021 年創下的105 億美元的高點相比增長了320%。是這些資金流入背後的主要動力。

Bitcoin ETPs Led Crypto Investment in 2024

比特幣 ETP 引領 2024 年加密貨幣投資

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.

比特幣交易所交易產品（ETP）在 2024 年引領潮流，吸引了 380 億美元的資金流入。這佔比特幣管理資產總額 (AUM) 1,300 億美元的 29%。美國推出現貨比特幣 ETF 在推動資金流入方面發揮了重要作用。

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.

追蹤以太坊的 ETP 也出現了顯著的活動，以太坊產品的全年流入量達到 48 億美元，佔以太坊資產管理規模 186 億美元的 26%。以 XRP 為重點的 ETP 吸引了 4.38 億美元的流入，而多元資產產品則吸引了 2.57 億美元的流入。

Total ETP Assets Surged to $160.6B

ETP總資產飆升至$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.

到 2024 年底，加密貨幣 ETP 的管理總資產（AUM）已飆升至 1,606 億美元。這種成長反映出全球對加密貨幣作為一種資產類別的興趣日益濃厚，投資透過多種產品進行，包括比特幣、以太幣、XRP 和多資產基金。

Canada Led in Crypto ETP Outflows

加拿大在加密貨幣 ETP 流出方面處於領先地位

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.

2024 年，美國的加密貨幣 ETP 流入量為 445 億美元，而加拿大則成為最大的賣家。加拿大加密貨幣 ETP 年內流出 7.07 億美元。

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.

瑞典和德國也報告大量資金外流，分別為 6.82 億美元和 3.28 億美元。另一方面，瑞士和巴西的加密貨幣 ETP 市場出現了積極的資金流入，分別增加了 6.3 億美元和 2.34 億美元。

Regional Trends in Crypto ETP Investments

加密貨幣 ETP 投資的區域趨勢

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.

CoinShares 強調了 2024 年加密貨幣 ETP 的區域表現參差不齊。同時，加拿大、瑞典和德國出現了大量資金外流，反映出不同的市場狀況和投資者策略。