 Crypto products record 10th consecutive week of inflows at $3.2B 
2024-12-16
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Cryptocurrency investors have not halted their purchasing spree as Bitcoin sets new highs and crypto investment products hit their 10th consecutive week of inflows.
Digital asset investment products saw another $3.2 billion of inflows in the trading week of Dec. 9–13, crypto investment firm CoinShares reported in its latest weekly flows report on Monday, Dec. 16.
This follows a record $3.85 billion in weekly inflows during the previous period, bringing total inflows for 2024 to $44.5 billion.
The milestone follows a series of consecutive weekly inflows since early October, with the past 10 weeks alone bringing $20.3 billion, accounting for 45% of all inflows in 2024.
Bitcoin products lead with $2 billion inflows
In the past week, Bitcoin BTCUSD investment products saw inflows totaling $2 billion, bringing total inflows since the United States presidential election to $11.5 billion, CoinShares’ head of research, James Butterfill, wrote in the update.
Short Bitcoin products also saw increased activity, with $14.6 million in inflows compared to the previous week. Total assets under management for short BTC exchange-traded products (ETPs) remained low at $130 million, Butterfill noted.
BlackRock’s iShares Bitcoin Trust exchange-traded fund (ETF) led BTC inflows with $2 billion, while Grayscale’s Bitcoin Trust saw outflows of $145 million.
Ether ETPs hit seventh week of inflows at $1 billion
Ether ETHUSD, the second-largest cryptocurrency in terms of market capitalization after Bitcoin, posted another successful week in ETP investments, with Ethereum ETPs seeing $1 billion in inflows last week.
Ethereum ETPs have continued gaining momentum, with the new inflows marking seven consecutive weeks of inflows in various Ether-based ETPs totaling $3.7 billion over the period.
Regional flows reflected broad positive sentiment, with all but one region seeing inflows last week.
The United States continued to be the biggest contributor with $3.1 billion in inflows, followed by Switzerland and Germany with $35.6 million and $33 million in inflows, respectively.
Sweden was the only country that saw crypto ETP outflows last week, totaling $19 million.