Inflows into crypto investment products eclipsed $2.2 billion in 2023 — nearly triple the total seen the prior year.

Net inflows into such vehicles spiked sharply from the roughly $800 million seen in 2022. However, the yearly total lagged 2020 and 2021, during which crypto products notched inflows of $6.6 billion and $10.7 billion, CoinShares data shows. 

The segment’s assets under management increased by 129% during 2023, ending at $51 billion — the highest level since March 2022.

“Much of the recovery was in the final quarter where it became increasingly clear that the [US Securities and Exchange Commission] was warming up to the launch of bitcoin spot-based ETFs in the…

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