Cryptocurrency funds at asset managers like BlackRock, Fidelity, ProShares, and 21Shares have surpassed 2021’s record yearly inflows, with over $12 billion in inflows worldwide after only three months of trading this year, according to CoinShares.
The record was broken this week with inflows of $1.76 billion into global crypto exchange-traded funds and exchange-traded products, mostly driven by significant inflows from the launch of spot bitcoin ETFs in the US.
According to CoinShares Head of Research James Butterfill, “Digital Assets ETFs/ETPs have smashed the 2021 record, with inflows following the last few days now sitting at $12 billion year-to-date compared to $10.6 billion for the whole of 2021.”
Before this week’s start, global crypto investment products had already surpassed the $10.3 billion milestone in 2024 and were experiencing record inflows last week, adding around $2.7 billion.
In addition, last week’s trading volume for cryptocurrency funds set a new record of $43 billion, almost 50% more than the previous best of $30 billion, which was reached just one week earlier.
The total assets under management at the funds have also achieved record highs approaching $100 billion, coupled with recent price advances in the cryptocurrency market.
Unsurprisingly, American exchange-based cryptocurrency investment products have dominated this week thus far, accounting for 100% of the inflows as funds from other nations canceled out.
More than 88%, or $1.55 billion, of the inflows this week have come through U.S. spot bitcoin ETFs; on Tuesday, there was a record daily net inflow of $1 billion, primarily from BlackRock’s IBIT ETF. On Tuesday, that product set a record for its daily inflow of $849 million, and for the first time, its assets under management surpassed $15 billion.
Also Read: Crypto Funds Surge to Record $2.5 Billion Inflows Amid Bitcoin ETF Buzz
