Digital assets manager CoinShares says that institutional crypto investors poured billions in capital into digital asset products last week in anticipation of further interest rate cuts.
In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment products saw a surge in inflows to the tune of $1.2 billion last week.
"Digital asset investment products saw a third consecutive week of inflows totaling US$1.2bn, which we believe is a reaction to continued expectations of dovish monetary policy in the US and associated positive price momentum, with total assets under management (AuM) rising by 6.2% last week."
From a regional perspective, the United States led inflows at $1.2 billion. While Switzerland provided another $84 million worth of inflows, Germany and Brazil suffered outflows of $21 million and $3 million.
Bitcoin (BTC), per usual, collected the lion's share of the inflows at $1 billion. However, according to CoinShares, those huge inflows came with a catch.
"... although this also spurred further inflows into short-bitcoin investment products of US$8.8m."
Ethereum (ETH) products broke a five-week outflow trend, raking in $87 million last week.