Bitcoin institutional inflows top $1B in 2023 amid BTC supply squeeze

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Bitcoin (BTC) institutional investment cars have seen over $1 billion in new inflows in less than two months.In its newest weekly report on Nov. 13, crypto property management firm CoinShares enhanced the narrative that Bitcoin and altcoins are once again attracting capital.Crypto institutional product AUM up 99% year-to-dateBitcoin, Ether (ETH) and some major altcoins are enjoying cost gains as enjoyment over the possible approval of the United States first spot exchange-traded fund (ETF) grows.Since November 2022, the overall crypto market cap has actually increased by $600 billion, information from TradingView confirms.Total crypto market cap 1-week chart.” Digital property investment items saw inflows totalling US$ 293m last week, bringing this 7-week run of inflows past the US$ 1bn mark, leaving year to date inflows at US$ 1.14 bn, making it the 3rd greatest yearly inflows on record,” it summarized.Among the excellent data revealing cryptos renaissance in 2023 is the possessions under management (AUM) tally for crypto exchange-traded items (ETPs). “Bitcoin saw inflows amounting to US$ 240m last week, pushing year-to-date inflows to US$ 1.08 bn, while short-bitcoin saw US$ 7m outflows, a sign of continue positive belief,” it stated.Crypto institutional inflows (screenshot).