Weekly digital asset inflows reach $901M, totaling $27B in 2024
2024-10-29

Digital asset inflows experienced a notable surge in the week ending Oct. 25, reaching $901 million, largely fueled by a spike in Bitcoin transactions and propelling year-to-date totals to $27 billion. 
According to the CoinShares weekly flows report, Bitcoin BTCUSD attracted $920 million during this period, a trend likely influenced by the upcoming elections in the United States. As noted in the report:
The country led the charts with $906 million in inflows, while Germany and Switzerland recorded gains of $14.7 million and $9.2 million, respectively. In contrast, Canada, Brazil, and Hong Kong experienced slight outflows of $10.1 million, $3.6 million, and $2.7 million, respectively.
CoinShares reports that short-Bitcoin positions posted minor outflows of $1.3 million during the past week. 
Among issuers, BlackRock's iShares Bitcoin Trust exchange-traded fund (ETF) still holds the top spot, with total assets under management of more than $28 billion. Combined, Bitcoin ETF issuers are managing assets worth $78.9 billion. 
October’s bullish turn for digital assets
October has seen inflows account for 12% of total assets under management, marking it as the fourth largest month of capital flows on record. Total inflows in 2024 reached $27 billion — nearly three times higher than the previous record of $10.5 billion set in 2021. 
According to CoinShares, the positive sentiment is also seen in blockchain equities, posting a third week of positive flows and closing Oct. 25 at $12.2 million in volume. Solana SOLUSD funds saw the second largest inflows at $10.8 million.
The trend has not been reflected in Ethereum-based funds, which amassed the largest outflows among digital assets, closing with $35 million in withdrawals.
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