In 2025, the global digital asset ETP fund flows are showing a multi-polar development pattern.

According to the Coinshares report, the total inflow of global digital asset investment products in 2025 reached $47.2 billion. Although this figure is slightly below the record of $48.7 billion set in 2024, it still ranks as the second-highest in history, indicating that institutional interest in cryptocurrencies remains strong.

Notably, the market demonstrated strong resilience at the end of the year. Despite experiencing brief fluctuations during the week, it recorded a net inflow of $582 million in the final week of the year, successfully reversing two consecutive weeks of outflows and ending the year on a positive note.

Looking at countries/regions, the United States continued to dominate with an annual inflow of $42.5 billion, though this was a 12% decrease compared to 2024, suggesting a weakening of its dominance.

Of particular interest, Germany shifted from a net outflow of $43 million in 2024 to a net inflow of $2.458 billion in 2025; Canada moved from a net outflow of $603 million to a net inflow of $1.147 billion in 2025.

Switzerland also experienced a net inflow of $775 million, an 11.5% increase year-over-year. This shift indicates that the institutionalization process of digital assets is accelerating and spreading to a broader range of economies.

Meanwhile, Bitcoin, once the leader, saw a fund inflow of only $26.9 billion in 2025, down 35% from the same period last year. During the same period, investment products shorting Bitcoin recorded an inflow of $107 million, a 2.38% increase year-over-year, suggesting a cautious outlook for the Bitcoin ETP market.

In stark contrast, mainstream altcoins like ETH saw a 138% year-over-year surge in fund inflows in 2025, reaching $12.7 billion; XRP and SOL experienced even more dramatic increases of 500% ($3.7 billion) and 1000% ($3.6 billion), respectively.

This phenomenon also indicates that funds continue to flow into a select few top projects with solid fundamentals or clear narrative support.

In summary, the annual digital asset fund flow report reveals that the market is transitioning from an early stage driven primarily by Bitcoin to a new cycle of multi-polar development.

This trend of multi-polarization will not only reshape the market’s fund flows but also promote the entire crypto industry toward a more mature and balanced evolution.

#加密货币ETP #Investment Trends