Global crypto funds break 2021 inflow record in under 3 months in 2024

Crypto funds at asset managers such as BlackRock, Fidelity, ProShares and 21Shares have surpassed 2021’s yearly inflow record — reaching more than $12 billion worth of inflows globally in just three months of trading this year, according to CoinShares.

This week's inflows of $1.76 billion into global crypto exchange-traded funds and exchange-traded products were enough to break the record — dominated by substantial inflows generated by the new spot bitcoin ETFs in the United States.

“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,” CoinShares Head of Research James Butterfill wrote .

Global crypto investment products witnessed record inflows last week, adding nearly $2.7 billion, and had already reached the $10.3 billion mark in 2024 before this week began. 

The crypto funds also generated a new record trading volume of $43 billion last week — nearly 50% higher than the prior peak of $30 billion set just the week before. Combined with recent price gains in the crypto market, total assets under management at the funds have also reached record highs nearing $100 billion.

So far, crypto investment products based on exchanges in the United States have unsurprisingly dominated this week, effectively generating 100% of the inflows as fund flows in other countries canceled themselves out.

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U.S. spot bitcoin ETFs have brought in more than 88% or $1.55 billion of the inflows this week alone — including a record daily net inflow of $1 billion on Tuesday, mainly consisting of BlackRock’s IBIT ETF. That product registered a $849 million daily inflow record of its own Tuesday, and its assets under management crossed $15 billion for the first time.

The bitcoin price set fresh all-time highs earlier today, rising to a peak of $73,710 before correctly, according to The Block’s price page .

Earlier this week, CoinShares completed its acquisition of Valkyrie Funds — including its BRRR spot bitcoin ETF — enabling the European asset manager to expand into the U.S. market.