Cryptocurrency management company CoinShares released a report on Wednesday stating that digital asset ETPs saw a net inflow of $243 million in the last week of 2023, bringing the total inflow for the year to $2.2 billion, which is 2.7 times the net inflow of the previous year. This “marks a dramatic shift in this asset class.”
According to data since 2017, 2023 was the third-highest year for inflows into digital asset investment products, only surpassed by $6.6 billion in 2020 and $10.7 billion in 2021. CoinShares’ report stated:
Bitcoin benefited the most from improved investor sentiment, with net inflows into related investment products reaching $1.9 billion in 2023, accounting for 87% of the total. This dominance is the highest ever recorded, surpassing the previous peak of 80% in 2020. Net inflows into Solana investment products amounted to $167 million, surpassing both Ethereum and short Bitcoin investment products, which had net inflows of $78 million and $60 million, respectively.
Source:
CoinShares
The United States had the highest net inflows, reaching $792 million, but this only accounted for 2% of its AuM. In contrast, Germany had the highest proportion of inflows relative to its AuM, at 22%. Canada and Switzerland followed closely behind, accounting for 15% and 13% of their respective AuM. CoinShares stated that considering investors’ preference for spot-based ETFs, the US’s lag in this aspect may be understandable.
Source:
CoinShares
Net inflows into blockchain stocks also experienced significant growth last year, with AuM increasing by 109% and total inflows reaching $458 million, which is 3.6 times the inflow of 2022.
