When viewed year-to-year, cryptocurrency investment products experienced more inflows in 2023, with BTC having over $1.9 billion, representing 86% of the total.
Cryptocurrency investment products saw inflows totaling $243 million in the final week of 2023, bringing the total flows of the year to $2.2 billion, according to CoinShares. These flows are calculated based on the tokens sold and bought in 2023.
Bitcoin (BTC) funds saw the most significant inflows for any cryptocurrency, with over $1.9 billion, representing 86% of the total. Solana (SOL) was a distant second, posting $167 million in inflows. Multi-Asset and Binance (BNB) exchange-traded products (ETP) bucked the overall trend, posting net outflows of $18 million and $1 million, respectively.
When viewed year-to-year, cryptocurrency investment products in 2023 saw more inflows than in 2022. Bitcoin funds saw the most significant inflows for any cryptocurrency in 2022, with $388 million, representing 47.5% of the $816 million total. Multi-Asset followed with $272 million, leaving Binance with an outflow of $24 million.
