CoinShares, the leading digital asset management firm, has released its quarterly report showing that investors poured record inflows of $243 million into crypto investments during the final week of 2023, bringing the year-end total inflows to $2.2 billion.
The report details that the majority of inflows in the final week of December came in the form of institutional grade crypto-related products which included digital asset exchange-traded products (ETPs). CoinShares notes that the $2.2 billion inflow during 2023 is significantly higher than the 2019 total of $1.2 billion.
CoinShares Chief Executive Officer Ryan Radloff said that this increased investment indicates an increased level of confidence in the future of the sector and its promise to revolutionize the global market and investment landscape.
The report also showed that the inflows for the first two weeks of 2023 were more than double the same period in 2020. Radloff said that this points to a “growing trust from institutional investors” in the space.
CoinShares’ report further shows that the majority of inflows during 2023 were from US, Europe, and Asia-Pacific based investors. These regions accounted for $1.6 billion out of the total $2.2 billion in crypto inflows for the year.
Radloff added that the $2.2 billion inflow was likely an underestimate as it doesn’t take into account direct investments into cryptoassets, which could reach into the billions.
The report also highlights how organizers around the world have pushed for the widespread adoption of cryptocurrencies. Radloff noted that “many governments including the US, Canada, and countries in Europe are looking to develop appropriate regulations to address digital assets and are exploring securities law frameworks for token offerings.”