Crypto funds see $2.2 billion inflow, pushing 2024 total to $33.5 billion Crypto funds see $2.2 billion inflow, pushing 2024 total to $33.5 billion
Surging year-to-date inflows highlight growing investor confidence in digital assets post-US elections.
2 min read
Updated: Nov. 18, 2024 at 3:23 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Last week, digital asset investment products saw $2.2 billion in inflows, reflecting a broader market uptrend driven by Donald Trump’s recent victory at the just-concluded US presidential election.
In the first half of the week, inflows peaked at $3 billion, lifting total assets under management (AUM) to an all-time high of $138 billion. However, Bitcoin’s record price performance during the period prompted an outflow of around $866 million, resulting in a net inflow of $2.2 billion.
According to CoinShares, this inflow pushed the totals since the September interest rate cut to $11.7 billion, bringing the year-to-date total to $33.5 billion.
James Butterfill, Head of Research at CoinShares, explained that:
“This recent surge in activity appears to be driven by a combination of looser monetary policy and the Republican party’s clean sweep in the recent US elections.”
US-Bitcoin ETFs continue to dominate
Bitcoin’s dominance remained strong, with $1.48 billion in inflows. The substantial flows can be linked to the impressive performance of the US-based spot exchange-traded fund (ETF) products, which continue to attract significant attention from retail and institutional traders.
According to CoinShares data, BlackRock’s IBIT and Fidelity’s FBTC saw inflows of $2.1 billion and $4 million, respectively. On the other hand, outflows of $153 million from the Ark 21 Shares fund outstripped those of Grayscale, which stood at $108 million for the week.
Meanwhile, Bitcoin’s record-breaking price performance above the $90,000 mark has attracted bearish traders, who invested $49 million in short Bitcoin products.
Moreover, the bullish market sentiment appeared to influence interest in Ethereum, which also attracted significant inflows of $646 million (equivalent to 5% of its AUM). Butterfill linked this inflow to election results and a proposed Beam Chain network upgrade.
Other assets, including Solana, XRP, and Cardano, saw more modest inflows of $24 million, $4.3 million, and $3.4 million, respectively.
Mentioned in this article
Bitcoin 
Ethereum 
Solana 
XRP 
BlackRock 
Fidelity Investments 
CoinShares 
Ark Invest iShares Bitcoin Trust 
ARK 21Shares Bitcoin ETF 
Grayscale Bitcoin Trust 
Fidelity Wise Origin Bitcoin Trust Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,173.26
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Solana
$239.681
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
XRP
$1.12532
The XRP Ledger is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Fidelity Investments
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
Ark Invest
ARK Investment Management LLC (ARK Invest) holds a precision lens on thematic investing.
The BlackRock Bitcoin ETF, known as the iShares Bitcoin Trust (IBIT), is an investment fund that provides regulated exposure to Bitcoin for investors.
The ARK 21Shares Bitcoin ETF (ARKB) is a digital asset ETF that seeks to track the performance of bitcoin, as measured by the performance of the CME CF Bitcoin Reference Rate – New York Variant (the “Index”).
The Grayscale Bitcoin Trust (GBTC) is a digital currency investment product that provides investors with access to Bitcoin through traditional investment channels.
The Fidelity Wise Origin Bitcoin Trust (FBTC) is a spot Bitcoin ETF that offers investors exposure to the price of Bitcoin.