Trends in Initial Coin Offerings and Crowdfunding Volume

Autonomous Research has analysed the trend in Initial Coin Offerings (ICOs) as an unregulated means of financing public Blockchains.  ICOs have experienced significant growth in 2014-2016 with funding rising from $26 million to $222 million. Cryptocurrency Ethereum was responsible for the majority (73%) of total funding from its ICO in 2004, whereas theDAO lead with a majority (68%) in 2016. The number of notable ICOs also rose from 3 to 16 in this period.

Our second chart shows the 2015 breakdown of global crowdfunding activity. ICOs represent less than 1% of the $34 billion raised, with peer-to-peer funding making up a majority 74% of total funding. With the surge in financing of public blockchains, we expect ICOs to capture an increasing portion of crowdfunding volume.