This is the 10th week cryptocurrency investment products have been forced to take in funds, and a whopping $3.2 billion for December 9 through December 13, 2024. This is a big continuation of the bullishness throughout the year, with Bitcoin hitting new highs and investor confidence afloat.

The latest weekly report from CoinShares, a leading digital asset investment firm, brought the total inflows to $44.5 billion for 2024. With $20.3 billion moving into cryptocurrency exchange-traded products (ETP) during the past 10 weeks alone, that makes up 45 percent of the total capital flowing into crypto investment products this year.

But the show’s star continues to be Bitcoin, which hauled in $2 billion during the gold week. That total has made Bitcoin-focused products $11.5 billion since the U.S. presidential election in November, indicating several institutions are turning to digital assets. BlackRock’s iShares Bitcoin Trust accounted for the largest share of the $2 billion inflow that accelerated the surge, giving Bitcoin further dominance in the crypto space.

Despite total assets under management at only $130 million, $14.6 million in inflows were seen to short Bitcoin products. Yet that suggests a limited but cautious interest in hedging against Bitcoin’s price movements.

Ethereum Sees $1 Billion in Inflows, Positive Momentum

At the same time, Ethereum remains strong in the investment market. During the same period, ETPs based on the Ethereum asset recorded $1 billion in inflows, as there was positive momentum on the asset for the seventh week in a row. So far in the past seven weeks, Ethereum products have pulled in a total of $3.7 billion of inflows, an outpouring of confidence among investors in the cryptocurrency with the second largest market capitalization.

The week’s total inflows totaled $3.1 billion, and the United States continued to be the largest contributor to regional flows. Germany and Switzerland came in third ($33 million and $35.6 million, respectively). The United States’ dominance underlines the institutional embrace of cryptocurrency as a legitimate asset class. Yet Sweden was the only one to see outflows of $19 million for the week.

It underscores a broader positive sentiment regarding digital assets. There is a lot of traction from institutional and retail investors regarding crypto product investments. The Crypto Market is primed to grow. Bitcoin and Ethereum drive the charge, with serious capital flows displaying strong investor appetite.

Even further down the road to 2024, the new influx of capital regarding crypto products is pointing towards a positive outlook for the digital asset market. Still, it promises institutional adoption and regulatory clarity as major forces dictating the crypto landscape to come.