Investors have poured $2,25 billion into cryptocurrencies over 2023
SOL has become the most popular altcoin
04.01.2024 - 10:46
85
2 min
0
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.
Useful material?
Incidents
Roger Ver has been accused of not paying taxes
May 1, 2024
Mining
After the publication of the financial report, the company’s shares added 5%
Apr 30, 2024
Market
The commission had previously warned the developer of potential enforcement actions
Apr 29, 2024
Market
Funds can be seized by law enforcers due to links to illegal activity
Apr 26, 2024
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024