Global Digital Asset Inflows Reach $47.2B in 2025, Just Below 2024 Record

In 2025, global investment in digital asset products culminated in inflows of $47.2 billion, just shy of the previous year's impressive record of $48.7 billion.

Key Takeaways:

Global inflows into cryptocurrency investment products amounted to $47.2B in 2025, nearly matching the record set in 2024.
The United States remained the predominant contributor to these inflows, while Europe, led by Germany and Canada, saw a significant rebound.
Investor interest shifted towards Ethereum and certain large-scale altcoins, as demand for Bitcoin decreased.

According to a report by CoinShares, the final days of 2025 showcased renewed activity, with $671 million entering the market on the last Friday and a total of $582 million added during that week, despite previous outflows.

Global Digital Asset Inflows Hit $47.2B in 2025, Just Shy of 2024 Record

US Dominates Crypto Inflows as Europe Recovers

The United States retained its position as the leader in crypto investment inflows, contributing a total of $47.2 billion, although this represented a 12% drop compared to 2024.

On the other hand, Europe experienced a remarkable rebound. Germany reported inflows of $2.5 billion, a significant recovery after experiencing net outflows the previous year. Canada also bounced back with $1.1 billion returning to its markets following a lackluster 2024.

Switzerland exhibited consistent performance with inflows of $775 million, reflecting an increase of over 11% year-over-year.

When examining asset-level trends, results were mixed. Bitcoin faced a decline in demand, with inflows shrinking by 35% to $26.9 billion, largely due to price weaknesses during various periods of the year. This decline led to modest interest in short-Bitcoin products, which attracted $105 million, although the total assets in this segment remained relatively small at $139 million.

Conversely, Ethereum stood out as a strong performer, drawing in $12.7 billion, marking a remarkable 138% increase from the previous year.

Several large-cap altcoins also saw significant inflows. XRP experienced a 500% surge to $3.7 billion, while Solana skyrocketed by 1,000% to $3.6 billion, indicating a growing investor appetite for select alternatives.

However, sentiment toward other altcoins weakened. Inflows into lesser-known altcoins dropped by 30% year-over-year to $318 million, signaling a more cautious and selective investment approach.

In conclusion, 2025 proved to be a robust year for digital asset products, even as investors concentrated their funds on a smaller number of well-established tokens.

First Monthly Outflows for Crypto ETFs in 2025

In November, global crypto ETFs and ETPs reported net outflows of $2.95 billion, marking the first instance of withdrawals in 2025, according to ETFGI.

This decline followed a slowdown in the crypto markets after record high asset levels in September, as investors decided to take profits amid increased volatility.

Nonetheless, total assets stood at $179.16 billion by the end of November, reflecting nearly an 18% increase year-to-date, solidifying 2025 as the second-strongest year on record for crypto ETFs.

The significant sources of the November decline were Bitcoin and Ethereum-linked products. Bitcoin ETFs and ETPs faced net outflows of $2.36 billion, while Ethereum products experienced a loss of $1.36 billion in the same month.

Despite this dip, both Bitcoin and Ethereum maintained their leadership for the year, attracting $26.26 billion and $12.89 billion in net inflows, respectively.

The market continues to show substantial concentration, with the top three providers managing nearly 75% of global crypto ETF assets.

Smaller crypto themes exhibited selective strength. Solana-related products continued to gain investor interest, while Cardano and Polkadot also saw slight positive flows.

Interestingly, some products defied the overall trend, with the top 20 ETFs by net new assets collectively attracting $2.17 billion in November.