Key Points:
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.
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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