Institutional Capital Flows Into Crypto ETPs Cracks $1,000,000,000 Mark for 2023: CoinShares

According to CoinShares, institutional investors have increased their allocations to crypto as digital asset investment products saw their seventh consecutive week of inflows. Inflows for digital asset investment products totaled $293 million last week, bringing the seven-week run of inflows past the $1 billion mark, with year-to-date inflows at $1.14 billion. Bitcoin ETP investors could be driving much of the inflow volumes, with BTC products seeing inflows last week that totaled $240 million. Ethereum saw its largest inflows since August 2022 of $49 million, with the last two weeks signifying a real turnaround in sentiment.