Investments In Cryptocurrency Products Tripled In 2023

In 2023, investments in cryptocurrency investment products tripled to $2.25 billion compared to 2022. Most of the investments came in the last quarter of the year, when it became known that the U.S. Securities and Exchange Commission (SEC) was ready to launch a spot bitcoin-ETF. This event led to a general rise in the crypto market and changes in investor sentiment.

Total assets under management (AuM) rose 129% year over year to $51 billion, the highest since March 2022.

Almost 87% of the total investments are in bitcoin products. In 2023, $1.9 billion poured into BTC, the highest bitcoin dominance ever.

Inflows into Ethereum-based products rebounded to $78 million, but the second cryptocurrency lost out to Solana, with $167 million invested.

Investments in blockchain stocks rose 109% in 2023. The total inflow of $458 million was almost four times the previous year's figure.