The latest CoinShares report for Nov. 13 reveals a sustained influx of capital into digital asset ETPs, marking a significant milestone in the current fiscal year.
Last week’s inflows amounted to $293 million, contributing to a year-to-date total that surpasses $1 billion, an indicator of burgeoning interest from investors. This surge in ETP inflows has propelled the year-to-date figures to $1.14 billion, positioning 2023 as the year with the third-highest annual inflows on record.
Notably, Bitcoin ETPs have become particularly prominent in the trading landscape, accounting for 19.5% of total Bitcoin trading volumes on trusted exchanges. This percentage is not only exceptional but also signifies that ETP investors are engaging with the market with greater vigor than seen during the start of the Bitcoin bull run in 2020. Such engagement levels suggest a matured market participation and a shift in investor sentiment towards these products.
The positive sentiment is further exemplified by Bitcoin’s robust inflows of $240 million in the last week, escalating the year-to-date inflows to an impressive $1.08 billion. Concurrently, short Bitcoin positions experienced outflows, reinforcing the prevailing positive market outlook. Ethereum’s performance has also been noteworthy, with the largest weekly inflow since Aug. 2022, reaching $49 million, reflecting a renewed investor enthusiasm potentially spurred by developments such as the recent spot-based ETF listing request in the United States.
The inflows by provider show a diverse participation, with entities like 21Shares AG, ProShares ETFs/USA, and Purpose Investments Inc ETF leading the weekly inflow charts. Moreover, the distribution of inflows across countries indicates a global uptake, with notable contributions from Canada, Germany, and Switzerland, despite a slight retreat in markets like Brazil.
CoinShares’ year-to-date weekly inflow/outflow chart showcases an increase in inflows over the year, lending credence to the sustained investor interest and market resilience, even amid geopolitical and economic uncertainties.
Even ahead of any spot Bitcoin ETF launch in the U.S., the global digital asset ETP landscape is experiencing unprecedented growth, with recent data highlighting robust inflows and active participation that underscores investor confidence.
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