Crypto funds saw over $120 million in inflows last week

Weekly inflows into crypto asset management products were strong for the second week in a row, with CoinShares reporting $125 million coming into the industry last week. 

That brought total inflows into such products to $334 million over the past two weeks, according to the European asset manager. 

Bitcoin investment products accounted for the vast majority of inflows, with more than 98% of the funds tied to the largest cryptocurrency by market capitalization. 

Short-bitcoin investment products, meanwhile, witnessed outflows of $0.9 million. 

The past two weeks of inflows marked a swift turnaround for the sector, which up until the middle of June saw several weeks of outflows. The shift has been underpinned by a wider rally in the market that kicked off after a flurry of filings for new spot exchange traded funds that are now awaiting review by the U.S. Securities and Exchange Commission.