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Market

Digital Asset Investment Products Inflow Reached $243 Million Last Week

January 3, 2024 - Around 2 mins mins to read

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 Inflow Reached $243 Million Last Week
Digital Asset Investment Products Inflow Reached $243 Million Last Week 2

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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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Market

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 Inflow Reached $243 Million Last Week
Digital Asset Investment Products Inflow Reached $243 Million Last Week 4

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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