Cryptocurrency ETPs will see $2.2 billion inflow in 2023: CoinShares | CoinDesk JAPAN

According to data provided by asset management company CoinShares, in 2023, funds flowing into exchange-traded financial products (ETPs) for digital asset investment amounted to $2 billion (approximately 29 billion yen, equivalent to 145 yen to the dollar). It was the third largest year in terms of net inflows since 2017.

The inflow amount in 2023, which is $2.2 billion, is more than double that in 2022. “It is becoming increasingly clear that the U.S. Securities and Exchange Commission (SEC) is preparing to begin selling Bitcoin spot ETFs in the U.S.,” said James Butterfill of CoinShares. “Most of the funds came in in the last quarter,” he said.

In the last week of 2023 alone, net inflows into digital assets ETP amounted to $243 million.

Last year’s top inflow was Bitcoin (BTC), with $1.9 billion, or 87% of the total $2.2 billion. According to CoinShares, the previous high was 80% in 2020, and this time it was the highest on record.

Bitcoin prices rose throughout the year, ending 2023 at over $42,000, an increase of approximately 155%.

Investment products related to Solana (SOL) also performed well in 2023, with net inflows of $167 million. Ethereum (ETH), on the other hand, was a laggard at just $78 million.

｜Translation and editing: Rinan Hayashi
｜Image: CoinShares
｜Original text: Crypto Investment Products Saw $2.2B of Inflows in 2023: CoinShares