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Brazil invests record amount of US$234 million in cryptocurrencies in 2024
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Cryptocurrency investment products ended 2024 with an all-time high of US$44.2 billion in global inflows. According to the CoinShares weekly report, published this Monday morning (06), this corresponds to almost four times the previous record of US$10.5 billionestablished in 2021.
As the company highlighted, the crypto market managed to reach this mark due, above all, to the introduction of Bitcoin-based ETFs (exchange-traded funds) in the United States. These products represented 100% of entries into the North American markettotaling US$44.4 billion.
Furthermore, other markets, such as Switzerland, registered US$630 million in inflows during the year. However, this performance was overshadowed by large capital outflows in Canada and Swedenwhich totaled US$707 million and US$682 millionrespectively.
These outflows reflect a migration of investors to US-based products and, in some cases, profit taking.
Brazil, in turn, recorded inflows of US$234 million in 2024. These values contrast sharply with previous years. In 2023, for example, the Brazil withdrew US$34 million of cryptocurrency funds. In 2022, the Brazilians invested US$ 137 million in crypto funds.
Bitcoin was the main highlight of the year, attracting US$38 billion in inflowswhich represents 29% of total assets under management (AuM) in the cryptocurrency sector.
Despite the appreciation throughout the year, investment products in short positions in Bitcoin registered US$ 108 million in entriesa volume slightly lower than the US$116 million registered in 2023.
THE Ethereumin turn, also had an impressive performance, especially at the end of 2024, closing the year with US$4.8 billion in inflows. This represents 26% of AuM.
This value is 2.4 times higher than that recorded in 2021 and 60 times greater than 2023 flows. These entries consolidate the asset as the second most attractive for institutional investors, significantly surpassing altcoins such as Solana, which registered only US$69 million in entries.
Altcoins, excluding Ethereum, added US$813 million in inflows throughout 2024, representing 18% of AuM. This segment has remained secondary to the dominance of Bitcoin and the growing popularity of Ethereum.
Brazil invests record amount of US$234 million in cryptocurrencies in 2024
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Brazil invests record amount of US$234 million in cryptocurrencies in 2024
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Brazil invests record amount of US$234 million in cryptocurrencies in 2024
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Brazil invests record amount of US$234 million in cryptocurrencies in 2024
