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CDS Crypto News Crypto Investment Products Saw Nearly $2.2 Billion Inflows Last Year

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Crypto Investment Products Saw Nearly $2.2 Billion Inflows Last Year

With the excitement generated by spot Bitcoin ETFs in late 2023, demand for crypto investment products soared.

lectertodd05/01/20241 Mins read366

Crypto Investment Products Saw Nearly $2.2 Billion Inflows Last Year

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.

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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%.

Sources:coindesk

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Lectertodd is 28 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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