Crypto Investment Products Saw $1.2 Billion Inflows Last Week

Digital asset funds saw inflows of $1.2 billion last week, the largest total since the week ending July 19, according to crypto asset manager CoinShares.

In its weekly report published today, CoinShares wrote that inflows have continued for three consecutive weeks and that this is related to expectations that interest rate cuts will continue. US-based funds accounted for $1.17 billion of the $1.2 billion inflow.

The US bitcoin exchange-traded fund (ETF) sector received a significant boost when the Securities and Exchange Commission (SEC) approved physically settled options tied to BlackRock’s ETF (IBIT), the largest of the spot BTC funds in the US.

“Although trading volumes did not see a commensurate increase, options confirmations increased inflows, in fact there was a slight decrease of 3.1 percent on a weekly basis,” CoinShares noted.

Bitcoin funds saw total inflows of over $1 billion. According to the report, ether products broke the five-week losing streak with an inflow of $87 million.