Crypto Funds Flourish In 2023: CoinShares Reports $2.2 Billion Inflow

Name	Symbol	Market	Market Cap ($)	Algorithm
Mina	MINAUSD	Crypto	581,075,384	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Mina

MINAUSD

Crypto

581,075,384

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.008	1.48%	0.548	0.548	0.549

Price Change

Price Change %

Current Price

Bid Price

Offer

0.008

1.48%

0.548

0.549

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.550	0.513	0.541	0.540	0.349000 - 1.73

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.550

0.513

0.541

0.540

0.349000 - 1.73

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	20:44:36	210.65	0.548	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

20:44:36

210.65

0.548

USD

Price x Volume	Volume	Base Symbol	Related Pairs
349,910.19	653,482.35	MINA	MINAEUR	MINAGBP	MINABTC

Price x Volume

Volume

Base Symbol

Related Pairs

349,910.19

653,482.35

Crypto Funds Flourish In 2023: CoinShares Reports $2.2 Billion Inflow

04/01/2024 8:30pm

NEWSBTC

CoinShares, a leading crypto asset investment firm, reported a substantial $2.2 billion inflows into digital asset investment products in 2023. This figure represents a notable 2.7-fold increase from the inflows seen in 2022, marking it as the third-largest year for such investments since 2017. According to James Butterfill, Head of Research at CoinShares, this increase signals a significant shift in investor sentiment and market dynamics compared to the previous year. Related Reading: Crypto Futures Razed To Ground As $659 Million Rekt With Bitcoin Crash Despite this uptick, the inflows remained under the record highs of $10.7 billion in 2021 and $6.6 billion in 2020. Butterfill attributes much of the recovery to the final quarter of the year, noting: [This was] where it became increasingly clear that the SEC was warming up to the launch of bitcoin spot-based ETFs in the United States. Diverse Investment Trends Across Crypto Funds Bitcoin investment products were the primary beneficiaries, accounting for $1.9 billion or 87% of yearly inflows. This dominance of Bitcoin-related inflows marks the largest percentage allocation to date, surpassing the previous peak of 80% in 2020 and significantly higher than the 42% seen 5 years ago in 2017. Butterfill noted no clear trend in this allocation, suggesting that the hype surrounding US SEC-approved spot ETF might be a contributing factor. In contrast, Ethereum investment products saw a modest recovery in inflows towards the year’s end, totaling $78 million. However, this represented only 0.7% of Coinshares’ total Assets Under Management (AUM). On the other hand, Solana investment products recorded inflows of $167 million or 20% of the firm’s total AUM in 2023. The US led the pack in terms of inflows in dollar terms, with $792 million, followed by Germany with $663 million and Canada with $543 million. However, when analyzing inflows as a percentage of AUM, the US saw a modest 2% increase, while Germany and Canada witnessed a more significant growth of 22% and 15% of AUM, respectively. This disparity suggests a regional variation in investor preferences and strategies, particularly in the US, where the anticipation of a spot-based ETF may have influenced investment choices, according to Butterfill. In total, assets under management at these funds surged by 129% over the year, hitting a high of $51 billion, a value not seen since March 2022. Blockchain equities also saw a rise, with inflows increasing 3.6 times to $458 million in 2023, resulting in a 109% rise in AUM. Recent Market Recovery Post-Matrixport’s Report The crypto market, however, is not without its recent turmoil. The market faced a setback following a bearish report by Matrixport, which speculated on the rejection of spot Bitcoin ETFs by the US SEC. Related Reading: From Bullish To Bearish, Bitcoin Plunges More Than 6% Amid Matrixport’s Contradictory Reports This report triggered a brief market downturn, with Bitcoin and Ethereum experiencing significant drops. Nonetheless, both cryptocurrencies show signs of recovery, with Bitcoin regaining its $43,000 mark and Ethereum climbing above $2,200. Featured image from Unsplash, Chart from Tradingview

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