Crypto ETPs to launch with $585M in revenue by 2025 — CoinShares
Cryptocurrency investment products are off to a good start in 2025, with global crypto exchange-traded products (ETPs) posting $585 million in revenues in the first three days of the year.
Early earnings did not offset heavy selling in the last two trading days of 2024, meaning crypto ETPs saw net inflows of $75 million in the last trading week, crypto investment firm CoinShares reported on January 6.
Despite the end of the year, 2024 closed as a record-breaking year for crypto ETFs, with revenues of $44.2 billion – a 320% increase from 2021's $10.5 billion.
The historic launch of Bitcoin exchange-traded funds (ETF) in the United States in January 2024 contributed to most of the revenue, CoinShares head of research James Butterfill said in the update.
Bitcoin dominated by 29% of ETF flow
Bitcoin (BTC) ETPs dominated in 2024, with $38 billion in revenue, accounting for 29% of the total BTC $130 billion in assets under management (AUM).
Ether (ETH)-based ETPs saw a resurgence in late 2024, with full-year revenue reaching $4.8 billion, or 26% of all 18.6 billion ETH in AUM.
Flows in assets over the past four years (in millions of US dollars). Source: CoinShares
Related: 3 crypto predictions going into 2025: SOL ETFs, AI trading, new risks
Total AUM for all crypto ETPs will reach $160.6 billion by 2024. This growth was driven by $438 million in XRP (XRP) products and $257 million in multi-asset ETPs, according to CoinShares data.
Canada was the largest crypto ETP seller in 2024.
While the US is the largest buyer of crypto ETPs, with $44.5 billion in inflows from the country, Canada is the largest seller of crypto ETPs in 2024.
According to CoinShares, Canadian crypto ETPs saw $707 million in 2024. Countries like Sweden and Germany also posted $682 million and $328 million in crypto ETP outflows last year.
Flows by countries over the past four years (in millions of US dollars). Source: CoinShares
Crypto ETFs in Canada, Sweden and Germany saw $630 million and $234 million in revenue from countries like Switzerland and Brazil, respectively.
Magazine: Ether Could ‘Struggle' in 2025, SOL ETF Chances Rise, and More: Hodler's Digest, December 29 – January 4
