Strong Investor Interest Propels Digital Asset Investment Inflows Beyond $1 Billion
In the week ending November 10, the inflow of funds into digital asset investment products reached $293 million, marking the second-highest weekly inflow in 2023, as revealed by the latest data from Coinshares.
This influx pushed the total value of funds into digital asset investment products past the $1 billion mark for the first time this year. The report highlights that the year-to-date inflows now stand at $1.14 billion, making it the third-highest yearly inflow on record. The assets under management (AUM) increased by 9.6% in the same period and by 99% since the beginning of the year.
The report suggests that the recent crypto market rally, particularly in assets like Solana, ETH, and BTC, contributed to the rise in AUM. Bitcoin ETP trading volumes accounted for nearly 20% of total BTC trading volumes on trusted exchanges, indicating a growing investor appetite for digital asset investment products. The report also notes significant inflows into ETH, marking some of the largest since August 2022, when funds flowing into this crypto asset reached $49 million.
Clever Robot News Desk 15th November 2023
