Crypto News – According to data from CoinShares, investors flooded digital asset investment exchange-traded products (ETPs) with over $2 billion in 2023, making it the third-largest year for net inflows since 2017.
Crypto Investment Products saw Nearly $2.2 Billion Inflows Last Year
With inflows of $2.2 billion, 2023 exceeded 2022 by a significant margin. As it became more apparent that the SEC was warming up to the introduction of Bitcoin spot-based ETFs in the US, the majority of this money struck in the last quarter, according to James Butterfill of CoinShares.
Bitcoin Increased 155% in 2023
Eighty-seven percent of the $2.2 billion in total last year’s inflows went to Bitcoin (BTC), dominating the stats. The previous high of 80% occurred in 2020, making that ratio the highest ever, according to CoinShares. With a sustained uptrend throughout the year, the price of Bitcoin closed 2023 around $42,000, having increased by almost 155%.
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