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Massive inflows of funds reported for crypto ETPs, ETFs

By Jessica Penny
3 minute read

Inflows into crypto ETPs and ETFs this YTD have surpassed last year’s figures by a wide margin.

Cryptocurrency exchange-traded funds (ETF) and exchange-traded products (ETP) gathered net inflows of US$2.23 billion during May, bringing year-to-date net inflows to US$44.5 billion – the highest on record.

According to new data from research house ETFGI, this is compared to outflows of US$135.57 million recorded in the first five months of last year.

ETFGI reported that following strong inflows in May and market moves during the month, assets invested in crypto ETFs/ETPs listed globally increased by 16.7 per cent from US$70.47 billion at the end of April 2024 to US$82.27 billion at the end of May 2024.


This, however, came in below the record US$84.69 billion seen in March 2024.

The report suggested the “substantial inflows” could be attributed to the top 20 ETFs/ETPs by net new assets, which collectively gathered US$3.11 billion during May.

iShares Bitcoin Trust (IBIT US) gathered US$1.17 billion, the largest individual net inflow. It was followed by the Fidelity Wise Origin Bitcoin Fund (FBTC US) which saw new assets of US$771.53 million over the month.

In fact, the top nine crypto ETFs or ETPs from this metric were issued in the US while the 10th place was occupied by the Harvest Bitcoin Spot ETF (3439 HK), which garnered US$50.97 million.

The new data comes as Australia sees an influx of new crypto ETF products.

Last week, the VanEck Bitcoin ETF (ASX: VBTC) debuted on the ASX, marking the exchange’s inaugural bitcoin ETF.

The ASX said on the occasion that it is really pleased to admit its first bitcoin ETF amid increasing customer demand for access to cryptocurrency assets.

“As the demand for digital assets continues to grow, we are proud to offer a regulated avenue for Australian investors to access the crypto asset market,” said the general manager of investment products and strategy at the ASX, Andrew Campion.

InvestorDaily previously covered the competition for Australia’s first bitcoin ETF, with both Global X and now Monochrome asserting their claim to the title.

While Global X entered the market in 2022, Monochrome, which listed its product on Cboe this month, asserts that its product is the sole genuine spot bitcoin ETF available.