Originally published on: December 16, 2024
Cryptocurrency enthusiasts continue to fuel their buying streak as Bitcoin reaches new heights and crypto investment products receive their 10th straight week of inflows.
A recent report from CoinShares revealed that digital asset investment products attracted a staggering $3.2 billion in inflows during the trading week of Dec. 9–13. This marks a significant milestone following a record-breaking $3.85 billion influx in the previous week, bringing the total inflows for 2024 to $44.5 billion.
The past 10 weeks alone have seen an impressive $20.3 billion in inflows, accounting for 45% of the total inflows in 2024. Bitcoin investment products alone received $2 billion in inflows, bringing the total since the US presidential election to $11.5 billion.
Additionally, short Bitcoin products experienced increased activity, with $14.6 million in inflows compared to the previous week. Despite this, total assets under management for short BTC exchange-traded products (ETPs) remained relatively low at $130 million.
In terms of ETH, the second-largest cryptocurrency in the market, Ethereum ETPs saw $1 billion in inflows last week, reflecting the ongoing momentum in the Ethereum market. These inflows marked seven consecutive weeks of positive investment activity in Ether-based ETPs, totaling $3.7 billion over the period.
Regional flows also showed positive sentiment, with the United States leading the way with $3.1 billion in inflows. Other significant contributors included Switzerland and Germany with $35.6 million and $33 million in inflows, respectively. However, Sweden was the only country to experience crypto ETP outflows, totaling $19 million.
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