Crypto Inflows Top $1B in 2023 as Investors Anticipate Boom

  • Last week, crypto investment funds recorded another round of nine-figure inflows.
  • The recent inflows have taken the total outflows in 2023 past a significant milestone.
  • Bitcoin, Ethereum, and Solana funds led the way.

In recent weeks, crypto investment funds have recorded continuous inflows as optimism that the U.S. SEC will approve a spot Bitcoin exchange-traded fund (ETF) has sparked significant price rallies. Last week, these inflows reached a significant milestone, extending the recent trend and signaling that investors are anticipating more gains.

Third-Highest Yearly Inflow on Record

Last week, digital asset investment products saw inflows totaling $293 million, extending the current streak of weekly inflows for a seventh week, according to CoinShares’, Monday, November 13, report.

The asset management firm noted that last week’s total brought year-to-date (YTD) inflows received by crypto investment funds to $1.14 billion, the third-highest yearly inflow on record, highlighting the seismic shift in investor sentiment in 2023.

CoinShares further disclosed that Bitcoin exchange-traded products (ETPs) trading accounted for 19.5% of the total Bitcoin trading volume last week. According to the asset manager, this ETP participation is higher than observed during the last bull run. The data suggests that the crypto market has gained increased exposure, and investors anticipate significant future gains.

Fund flows were largely positive across the board, with Bitcoin, Ethereum, and Solana funds leading the way.

The Usual Suspects

Per CoinShares’ report, Bitcoin funds received the most significant inflows last week, totaling $240 million. At the same time, Ethereum investment products raked in $49 million, the highest since August 2022, inspired by BlackRock’s ETF filing. Solana also continued its positive run this year with $11 million in inflows.

According to CoinShares, total assets under management (AuM) on crypto funds surged 9.6% last week to $44.3 billion, the highest since May 2022, before the Terra Collapse. The figure also represents a 99% YTD increase in AuM.

On the Flipside

  • Last week, short Bitcoin investment funds saw outflows totaling $7 million.

Why This Matters

Crypto funds flows provide insight into investor sentiment. Last week’s inflows suggest that investor sentiment remains significantly positive as bets continue.

Read this to learn more about the impact of U.S. investors on last week’s outflows:

Crypto Fund Inflows Hit 6-Week Streak, U.S. Leads the Charge

Learn more about why recent exchange deposits from Justin Sun and Vitalik Buterin sparked a flurry of speculation:

Justin Sun, Buterin Move ETH Amid BlackRock-Induced Rally

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