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 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.

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.

Recent Posts

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

1 hour ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

2 hours ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

3 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

3 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

4 hours ago

Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing Returns 

Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…

6 hours ago

This website uses cookies.