Investors have poured $2,25 billion into cryptocurrencies over 2023
SOL has become the most popular altcoin
04.01.2024 - 10:46
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2 min
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What’s new? At the end of 2023, the inflow of funds into cryptocurrency derivatives increased 2,7 times compared to last year and reached $2,25 billion. In the entire history of observations (since 2017), this is the third-largest result, analysts at investment company CoinShares report. Bitcoin remains the most preferred asset, accounting for 87% of inflows, or $1,9 billion.
What else is known? The record high was reached in 2021 ($10,7 billion), the second highest was the 2020 result ($6,6 billion). Most of the 2023 inflows came in the fourth quarter as “it became increasingly clear that the SEC was warming up to the launch of Bitcoin spot-based ETFs in the United States,” CoinShares writes.
Grayscale CEO: launching spot BTC ETFs will give bitcoin access to the $30 trillion market
Michael Sonnenschein also spoke about a meeting with SEC officials regarding the conversion of the GBTC bitcoin trust
Since January, total assets under management (AUM) of cryptocurrency investment firms have grown by 129% to $51 billion — the highest level since March 2022.
Bitcoin’s 87% share of 2023 inflows was a record for the asset. The previous peak was in 2020 (80%), and the minimum was in 2017 (42%).
Ethereum saw inflows of $78 million or 0,7% of AUM, while investors poured $167 million or 20% of AUM into Solana.
Earlier, Solana also overtook Ethereum in terms of popularity on Google.
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