Cryptocurrency Fund Assets Under Management Surpass $171.5 Billion before Trump's Inauguration
In a significant turn of events, crypto investment funds in January 2025 witnessed a substantial increase in inflows, totalling $2.2 billion from January 11 to January 17. This surge can be primarily credited to Thailand's introduction of a capital gains tax exemption on cryptocurrency transactions conducted through licensed exchanges, brokers, and dealers, effective from January 1, 2025, to December 31, 2029.
The policy, aimed at encouraging a large pool of Thai capital, estimated to be over US$60 billion held offshore, to return to domestic markets via regulated platforms, has acted as a strong fiscal incentive for investors. This move boosts transparency and encourages the repatriation of funds that were previously invested through unregulated international platforms.
The tax exemption has reshaped the investment landscape in Thailand and strengthened the country's position as a regional digital asset hub, attracting inflows into cryptocurrency funds during this period.
One striking example of this trend is the IBIT fund, which held approximately 698,919 BTC as of early July 2025, following net inflows. Although specific assets under management (AUM) in USD terms or across all crypto funds are not fully summarized, this example indicates substantial holdings and inflows at the fund level.
The positive market sentiment around July 2025 is evident, with Bitcoin trading at new record highs above $118,000 and crypto ETFs showing consecutive weekly inflows, signalling a healthy interest and growing AUM in crypto investment vehicles.
Meanwhile, other digital assets have also seen notable inflows. Instruments tied to Ethereum brought in $246.2 million, nearly offsetting last week's $255.6 million outflow. XRP funds added $30.8 million, while competitors based on Solana and Stellar recorded inflows of $2.5 million and $2.1 million, respectively.
However, short-Bitcoin funds experienced outflows of $0.5 million during this period.
As for the future, JPMorgan estimates that spot exchange-traded funds (ETFs) for Solana could see inflows of $3-6 billion within six months of going live, and $4-8 billion for XRP ETFs. The SEC faces a January 23-25 deadline to provide an initial response to Solana-ETF proposals from VanEck, 21Shares, Canary, Bitwise, and Grayscale.
In conclusion, the increased inflows into crypto investment funds from January 11 to January 17, 2025, can be attributed to the new tax exemption policy in Thailand, which is expected to drive further growth in the crypto market in the coming months.
The tax exemption policy in Thailand, effective from January 1, 2025, to December 31, 2029, has boosted transparency and encouraged the repatriation of funds in crypto investment, transforming Thailand into a regional digital asset hub. Consequently, this policy has resulted in substantial inflows into cryptocurrency funds, such as IBIT, which held approximately 698,919 BTC as of early July 2025. Furthermore, the crypto market demonstrated a positive sentiment in July 2025, with Bitcoin trading at new record highs, crypto ETFs showing consecutive weekly inflows, and other digital assets, like Ethereum, seeing notable inflows.
