The stock market fund provider CoinShares didn’t have such good news last week: two weeks ago, the stock market funds stopped the enormous inflow of new capital that had lasted for weeks. However, this was short-lived; these funds have once again grown significantly.
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Crypto funds are increasing again
This emerges from new data from CoinShares. On the social media platform However, he announced last week’s data.
Last week, $103 million flowed into digital assets, no report on Monday. Merry Christmas! pic.twitter.com/xAVzCrPPkQ
— James Butterfill (@jbutterfill) December 23, 2023
Measured funds increased by $102.7 million last week. That’s a significant improvement compared to two weeks ago, when they shrank by $15.8 million. This is also a significant improvement compared to last week; then funds grew by $42.8 million.
Bitcoin leads the way in advance of ETFs
As usual, Bitcoin (BTC) exchange products once again grew the most – $87.6 million to be exact. Ethereum (ETH) has regularly failed to participate in the growth trends of rival coins in 2023, but this was not the case last week.
These funds saw a total growth of $7.9 million. That brings net growth for this year to just $23 million. This is a stark contrast to Bitcoin funds, which grew by $1,758 million this year.
Solana Funds (SOL) also slowed a bit last week, rising by $7.9 million. Nevertheless, this altcoin remains extremely popular among investors. The Solana price has already risen by around 1,100% this year. Other altcoins also took things a little easier. Cardano (ADA) Exchange-traded products (ETPs) grew by just $1 million to a total market cap of just $69 million.
It is also striking that the money actually comes from all countries. Normally a few countries like the US or some European countries take the lead, but now the crowd was evenly distributed. Investors from Sweden alone sold around $8.7 million net. Countries too small to generate net sales of $0.8 million.
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