US Bitcoin ETFs see $903 million inflow as 2024 confirmed $44.2 billion gain globally
Crypto-related products achieved $44.2 billion in inflows in 2022, nearly quadrupling the previous record of $10.5 billion in 2021. This surge is largely due to the introduction of US spot-based exchange-traded funds (ETFs). Bitcoin ETFs attracted $38 billion, representing 29% of total assets under management (AuM), with holdings surpassing one million BTC shortly after launch. BlackRock’s IBIT and Fidelity’s FBTC were particularly successful, with IBIT being the top ETF launch in a decade. Grayscale’s GBTC experienced over $21 billion in outflows as investors sought cheaper options. The US led global inflows, drawing almost all of the $44.4 billion, while Canada and Sweden saw significant outflows. Ethereum secured $4.8 billion in inflows, marking a 2.4 times increase from 2021. Other altcoins collectively attracted $813 million. In early 2023, Bitcoin investment products saw $666 million in inflows, with Fidelity leading contributions.
