In 2023, global crypto funds hit a new record of $33.5 billion in assets under management. The inflow of funds has been ongoing for six consecutive weeks.
Growth in Crypto Funds Investments
According to CoinShares, crypto funds have shown net inflows for six consecutive weeks, reaching $2.19 billion. The assets under management for these funds have now reached a new height of $138 billion.
Optimistic Investor Sentiment
James Butterfill, Head of Research at CoinShares, attributes the current uptick in activity to loosened monetary policy and the Republican Party's victory in the US elections. Nevertheless, net inflows of $3 billion in the first three days were later offset by withdrawals of $866 million, highlighting a week of contrasts.
Investment Dynamics in Various Assets
Bitcoin-based products once again led the way with $1.48 billion in net inflows globally last week. Meanwhile, Ethereum-based investment products seemed to have broken their negative streak, logging $646 million in net inflows for the week.
Overall investment dynamics indicate optimism among investors, with a focus on traditionally popular cryptocurrencies like Bitcoin and Ethereum.
