- Bitcoin led 2024 crypto inflows with $38B, marking a 320% increase from 2021.
- Ethereum’s late 2024 surge brought $4.8B in inflows, 60x more than in 2023.
- U.S. Bitcoin spot ETFs contributed $44.4B in inflows, while Canada saw $707M outflows.
According to Coinshares report, the year 2024 saw spectacular growth in investments in cryptocurrencies. Their circulation worldwide increased by $44.2 billion, a fourfold performance over 2021. This was mainly driven by the historical launch of spot-based Bitcoin Exchange Traded Funds (ETFs) in the United States, which account for the greater part of such inflows. However, inflows slowed in the last quarter of 2024. The first three days of 2025 recorded an inflow of US$585 million.

Bitcoin received $38 billion, which accounted for 29% of the total market AuM. At the same time, Ethereum saw a recovery towards the end of the year, making it record annual fund inflows of $4.8 billion, 26% of its AUM. This represented a 2.4-times increase from the previous year and a 60-times rise from 2023. Aside from Ethereum, other cryptocurrencies reported robust participation with $813 million inflows but represented only 18% of the AuM.

Shifting Global Investment Trends and Regional Market Dynamics
While the United States led with significant buying activity, other nations experienced a shift in their investment patterns. Canada became the biggest outflow for crypto ETPs, with sales amounting to $707 million. Similarly, Sweden and German investors also suffered large outflows of $682m and $328m, respectively. This movement can be viewed as a part of a general trend featuring shift of funds towards U.S.-based products, probably due to the favorable legal conditions and new spot ETFs.

On the other hand, the investment inflows reported by Switzerland and Brazil were $630 million and $234 million, respectively, which indicates that there is a possibility of regional differences with regard to investor culinary and legal environment. These figures illustrate the continuous transformation of the global crypto market and changing tactics of investors aiming to obtain an adequate profit with minimal risks based on jurisdictions of different countries.
Outlook for 2025: Continued Growth Expected
Analysts at Galaxy Digital propose that there could be significant growth for U.S. Bitcoin spot ETPs, explaining that they could see $250bn in AuM in 2025. This optimism is justified by the strong performance of these products since their inception and the increasing recognition of digital currencies as a viable financial asset.
The possibility to have new regulations or loose regulations as expected with the Trump administration policies can also positively affect adoption of cryptocurrencies. Further, potential changes like giving the ability to stake their Ether spot ETPs could further bring new dynamics into the market for both institutional nd retail participants.