Digital Asset Funds See Inflows Top $1 Billion in 2023 Crypto Rebound

Cryptocurrency is making a comeback! A third consecutive week of sizable net inflows into cryptocurrency funds has pushed the yearly total above $1 billion, according to digital asset manager Coinshares. This milestone signals a significant shift in investor sentiment and a renewed interest in digital assets after a challenging period.

Digital Investment funds focused on digital assets like Bitcoin and Ethereum saw significant inflows in recent weeks, topping $1 billion. This surge in investment underscores the growing confidence in the long-term potential of these leading cryptocurrencies.

Digital asset investment product inflows broke over $1 billion for the year, adding a further $293 million last week. Bitcoin and ether-based products led the surge, with institutional and retail investors alike capitalizing on the recent market upturn.

According to CoinShares, asset managers including ProShares, 21Shares, Grayscale, and others have seen more than $1 billion in inflows so far this year, with $293 million entering the market just last week. This data highlights the widespread participation in the crypto rebound across various investment platforms.

Fresh off Bitcoin’s climb past $37,000, CoinShares Head of Research James Butterfill told Decrypt on Friday that investors have poured over $1.07 billion into digital assets. This continued momentum suggests that the upward trend for digital asset funds is likely to persist, fueled by positive market sentiment and growing institutional adoption. Investment funds focused on digital assets like Bitcoin and Ethereum saw significant inflows in recent weeks, topping $1.