According to the cryptocurrency investment company CoinShares, inflows into digital-asset funds totaled $433 million in 2022, the lowest level since inflows into the crypto industry reached $233 million in 2018, as reported by Cointelegraph.
According to Cointelegraph, the crypto winter does not appear to have had a significant impact on investors’ appetite for digital assets, which encouraged purchases of crypto assets in a year that saw a decline in price and the demise of numerous industry players.
In the weekly report, James Butterfill, a researcher at CoinShares, noted, “In a year where bitcoin prices fell by 63%, a clear bear market precipitated by irrational exuberance and an overly hawkish FED, it is encouraging to see investors on the whole still choosing to invest.”
Cointelegraph further noted that Bitcoin and multi-asset investment products saw the biggest gains in 2022, with inflows totaling $287 million and $209 million, respectively. The inflows last year were considerably less than in the bull market years of 2020 and 2021, when they were $9.1 billion and $6.6 billion, respectively.
According to Cointelegraph, the report claims that 2022 also saw the emergence of short-investment products, with inflows totaling $108 million, or just 1.1% of the total amount of Bitcoin under management. The researcher said, “They remain a niche asset.
The largest outflows last year totaled $436 million from Canada and $446 million from Sweden, respectively.
(With insights from Cointelegraph)