Digital Asset Investment Products Inflow Reached $243 Million Last Week
Key Points:
- Last week, digital asset investment products surged to $243 million, pushing 2023’s total to $2.2 billion.
- Bitcoin led the inflows with over $1.9 billion, comprising 86% of the total, while Solana followed with $167 million.
- Speculation grows as anticipation for spot-Bitcoin ETF approval rises.
CoinShares research director James Butterfill revealed that digital asset investment products experienced substantial net inflows last week, reaching $243 million and pushing the total fund flow for 2023 to $2.2 billion.
Digital Asset Investment Products Soar, Bitcoin Leads Inflows in 2023
Bitcoin dominated the inflows, attracting over $1.9 billion, constituting 86% of the total. Solana followed at a distance with $167 million in inflows. However, Multi-Asset and Binance exchange-traded products (ETP) defied the trend, recording net outflows of $18 million and $1 million, respectively.
Comparing the data year-to-year, 2023 witnessed higher inflows into digital asset investment products than 2022. In 2022, Bitcoin funds led the way with $388 million, comprising 47.5% of the $816 million total. Multi-Asset came in second with $272 million, while Binance faced an outflow of $24 million.
BTC Hits $45,000 Amidst Growing Speculation on Spot-Bitcoin ETF Approval
Bitcoin’s 12-month surge persisted into the new year, reaching $45,000 on Tuesday, marking its highest point since April 2022. The ongoing anticipation for the approval of spot-Bitcoin exchange-traded funds (ETFs) has been a driving force behind BTC’s price surge for months.
A recent Reuters report over the weekend reignited speculation about the imminent approval of these ETFs, suggesting a potential signal for increased digital asset investment products in the near future. Investors are closely watching developments, anticipating further growth in the cryptocurrency market.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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Digital Asset Investment Products Inflow Reached $243 Million Last Week
Key Points:
- Last week, digital asset investment products surged to $243 million, pushing 2023’s total to $2.2 billion.
- Bitcoin led the inflows with over $1.9 billion, comprising 86% of the total, while Solana followed with $167 million.
- Speculation grows as anticipation for spot-Bitcoin ETF approval rises.
CoinShares research director James Butterfill revealed that digital asset investment products experienced substantial net inflows last week, reaching $243 million and pushing the total fund flow for 2023 to $2.2 billion.
Digital Asset Investment Products Soar, Bitcoin Leads Inflows in 2023
Bitcoin dominated the inflows, attracting over $1.9 billion, constituting 86% of the total. Solana followed at a distance with $167 million in inflows. However, Multi-Asset and Binance exchange-traded products (ETP) defied the trend, recording net outflows of $18 million and $1 million, respectively.
Comparing the data year-to-year, 2023 witnessed higher inflows into digital asset investment products than 2022. In 2022, Bitcoin funds led the way with $388 million, comprising 47.5% of the $816 million total. Multi-Asset came in second with $272 million, while Binance faced an outflow of $24 million.
BTC Hits $45,000 Amidst Growing Speculation on Spot-Bitcoin ETF Approval
Bitcoin’s 12-month surge persisted into the new year, reaching $45,000 on Tuesday, marking its highest point since April 2022. The ongoing anticipation for the approval of spot-Bitcoin exchange-traded funds (ETFs) has been a driving force behind BTC’s price surge for months.
A recent Reuters report over the weekend reignited speculation about the imminent approval of these ETFs, suggesting a potential signal for increased digital asset investment products in the near future. Investors are closely watching developments, anticipating further growth in the cryptocurrency market.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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