Global crypto funds, managed by top asset managers like BlackRock, Fidelity, Grayscale, ProShares, and 21Shares, have reached a record $116 billion in assets under management (AUM) after five straight weeks of inflows, CoinShares reports.
These funds gained $1.98 billion in net inflows last week, boosting the 2024 year-to-date total to $31.3 billion. According to CoinShares Head of Research James Butterfill, assets have surged alongside a significant price rally following Donald Trump’s U.S. presidential election victory, with weekly trading volumes soaring to $20 billion — the highest since April.
U.S.-based crypto funds led the growth, pulling in $1.95 billion in net inflows, while Switzerland- and Germany-based products added $23 million and $20 million, respectively. Bitcoin-based investment products contributed the bulk of inflows, gaining $1.8 billion last week and $9 billion in total since the U.S. Federal Reserve started rate cuts in September. U.S. spot Bitcoin ETFs alone recorded $1.6 billion in net weekly inflows, with nearly $1.4 billion entering on Thursday, marking the largest daily inflow.
Ethereum-focused funds also saw strong demand, with $157 million in net inflows, the largest since July’s spot ETF debut. Modest gains were reported in Solana, Uniswap, and Tron-based products, while blockchain equities saw $61 million in inflows. Across the crypto market, net inflows reached $6.3 billion, with $4.5 billion directed into fiat-backed stablecoins, according to SoSoValue.
