Digital asset ETPs record $2.2 billion inflows for 2023, market eyes spot Bitcoin ETF launch

Quick Take

Reviewing CoinShares’ James Butterfill’s data, while 2023 might have been relatively tepid in terms of total inflows into digital asset ETPs, with $2.2 billion registered compared to $10.6 billion and $6.6 billion, respectively, in 2021 and 2020, the year ended on a high note with $243 million of inflows recorded in the final week. Notably, 2022 saw just $816 million of inflows, indicating a 169% year-on-year in 2023.

Market participants have linked this steady rise of inflows to the mounting buzz around the proposed spot Bitcoin ETF launch in the U.S., with a potential wave of approvals expected between January 8-10.

Unpacking the $2.2 billion total inflows, Bitcoin was the frontrunner with $1.9 billion, amounting to assets under management (AUM) of $38.5 billion. Ethereum, while a distant second in AUM, still saw substantial inflows of $78 million and held $10.1 billion AUM. Despite having a smaller AUM of $844 million, Solana-related products outstripped Ethereum in inflows with $167 million. In 2023, the total AUM for all coins amassed to $53.6 billion, according to CoinShares.

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