Cryptocurrency asset management company CoinShares released a report on Wednesday, stating that digital asset ETPs saw a net inflow of $243 million in the final week of 2023, bringing the total inflow for the year to $2.2 billion, 2.7 times the previous year’s net inflow, marking 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 behind $6.6 billion in 2020 and $10.7 billion in 2021. The report from CoinShares stated:
Bitcoin saw the largest benefit in improving investor sentiment, with net inflows into related investment products reaching $1.9 billion in 2023, accounting for 87% of the total, the highest dominance in history, surpassing the previous peak of 80% in 2020. Solana investment products had a net inflow of $167 million, leading Ethereum and short bitcoin investment products, with the latter two seeing net inflows of $78 million and $60 million, respectively.
Source:
CoinShares
The United States had the highest net inflow, reaching $792 million, but only accounting for 2% of its AuM. In comparison, Germany’s inflows accounted for 22% of its AuM, the highest proportion among all countries. Following closely were Canada and Switzerland, accounting for 15% and 13% of their respective AuM. CoinShares mentioned that considering investors may prefer spot-based ETFs, the U.S.’s lag in this aspect may be understandable.
Source:
CoinShares
Inflows into blockchain stocks also saw significant growth last year, with AuM increasing by 109% and total inflows reaching $458 million, 3.6 times the inflows in 2022.