Digital Asset Investment Products Hit Record $44.2 Billion in 2024: CoinShares Report

Investment in digital asset products reached an all-time high of $44.2 billion in 2024, driven by significant inflows into U.S. spot-based exchange-traded funds (ETFs), according to CoinShares. Despite periods of market volatility, the industry witnessed unprecedented growth.

Strong Start to 2025 Amid Record-Breaking 2024

The new year began robustly, with $585 million flowing into digital asset products within the first three days of 2025, CoinShares data revealed. However, net outflows of $75 million were recorded for the full week, which included the final two trading days of 2024, highlighting a mixed but optimistic start to the year.

James Butterfill, CoinShares’ head of research, noted that the $44.2 billion in inflows for 2024 nearly quadrupled the previous record of $10.5 billion set in 2021. This remarkable growth was largely fueled by U.S. spot-based ETFs, which accounted for the entirety of the inflows, totaling $44.4 billion.

Regional Shifts and Market Trends

Switzerland experienced modest inflows of $630 million, but these were offset by significant outflows in Canada and Sweden, which saw $707 million and $682 million withdrawn, respectively. The shift indicates a migration of investments toward U.S. products or a trend of profit-taking by investors.

Bitcoin Leads the Market

Bitcoin continued to dominate the market, attracting $38 billion in inflows and representing 29% of total assets under management (AUM) for digital asset products. Despite rising prices, short-Bitcoin products saw reduced inflows of $108 million, down from $116 million the previous year, suggesting a waning appetite for bearish bets on the cryptocurrency.

Ethereum and Altcoins Gain Momentum

Ethereum had a standout year, particularly in the latter half of 2024, with $4.8 billion in inflows. This marks a nearly 2.5-fold increase compared to 2021 and an astonishing 60-fold rise from 2023. Ethereum’s strong performance positioned it well ahead of Solana, which saw comparatively modest inflows of $69 million.

Other altcoins, excluding Ethereum, contributed $813 million in inflows, accounting for 18% of total AUM. While these assets continue to play a smaller role in the broader market, their performance underscores a growing diversification within the digital asset sector.

The Road Ahead

The record-breaking inflows of 2024 reflect growing investor confidence in digital assets, particularly in structured products like spot-based ETFs. As the market matures, the shifting dynamics between regions and asset classes highlight evolving preferences among investors. With 2025 already off to a strong start, the digital asset industry appears poised for another year of significant growth.