Digital Asset Inflows YTD Reach $27 Billion, Nearly Tripling 2021 Record

Digital asset investment products have seen $27 billion in inflows year-to-date (YTD), nearly three times the previous record of $10.5 billion set in 2021.

Inflows in the past month alone amounted to $901 million, comprising 12% of the total assets under management (AUM) and marking one of the strongest months for digital assets to date, according to a report from CoinShares.

The report suggested that these flows are likely driven by U.S. political dynamics, particularly Republican gains in polls.

The U.S. Leads in Terms of Inflows

The U.S. led these inflows, contributing $906 million.

In contrast, Germany and Switzerland recorded smaller gains of $14.7 million and $9.2 million, while Canada, Brazil, and Hong Kong saw modest outflows of $10.1 million, $3.6 million, and $2.7 million, respectively.

Bitcoin dominated inflows with $920 million, though short-Bitcoin positions saw minor outflows of $1.3 million—a deviation from usual trends.

Ethereum, however, faced the largest outflows at $35 million, while Solana attracted inflows of $10.8 million, the second-highest after Bitcoin.

Blockchain equities also reported inflows for the third consecutive week, totaling $12.2 million, hinting at continued positive sentiment in the sector.

🚨NEW: Solana saw $10.8M in net inflows from digital asset investment products, marking its fourth consecutive week of inflows.

Bitcoin led with $920M in inflows, while Ethereum and Cardano were the only assets to record outflows.

Source: @CoinSharesCo pic.twitter.com/GYFqy5nqhZ

— SolanaFloor (@SolanaFloor) October 28, 2024

Spot Bitcoin ETFs saw a daily net inflow of $402.08 million as of October 25, with the cumulative net inflow reaching an impressive $21.93 billion, according to data by SoSo Value.

BlackRock’s IBIT fund leads with the largest net assets of $26.98 billion, followed by Grayscale’s GBTC with $14.72 billion and Fidelity’s FBTC with $12.42 billion.

In terms of daily net inflows, IBIT also tops the chart with $291.96 million on Friday, followed by Fidelity’s FBTC with $56.95 million.

With total net assets now amounting to $65.25 billion, Bitcoin ETFs currently represent around 4.93% of the total Bitcoin market capitalization.

On the other hand, ETH Spot ETFs saw outflows on October 25, with a daily net outflow of $19.16 million, contributing to a cumulative net withdrawal of $504.44 million.

Among individual ETFs, Grayscale’s ETHE holds the largest net assets at $3.95 billion but saw a daily drop of 2.67% and traded $70.90 million worth of shares.

BlackRock’s ETHA, with net assets of $1.09 billion, also experienced a decrease of 2.70%.

Other major players include Grayscale’s secondary ETH ETF and Fidelity’s FETH, which has net assets of $423.12 million and cumulative inflows of $504.27 million, reflecting investor interest despite recent declines.

Metaplanet Becomes Asia’s Largest Holder of Bitcoin

Japanese investment firm Metaplanet Inc. has expanded its Bitcoin holdings, investing $10.4 million to push its total to over 1,000 BTC.

On Monday, the firm disclosed its latest Bitcoin purchase of 156.78 BTC, acquired at an average price of 10.2 million yen (approximately $66,436) per Bitcoin.

This brings the Tokyo-listed firm’s total Bitcoin holdings to 1,018.17 BTC, valued at roughly $68.8 million.

CEO Simon Gerovich said that this latest purchase positions Metaplanet as one of Asia’s largest corporate holders of Bitcoin.

Last week, Metaplanet raised approximately 10 billion yen ($66 million) through a stock acquisition rights offering, attracting 13,774 individual shareholders.