Digital-asset investment products at asset managers such as CoinShares, Bitwise, Grayscale, 21Shares and ProShares recorded net inflows for the sixth consecutive week. The funds added $261 million to a total $767 million over the last six weeks alone — surpassing all of 2022’s $736 million inflows — according to CoinShares’ latest report.

Notably, the inflow streak now matches July’s run — representing the largest since the crypto bull run ended in December 2021.

Bitcoin BTC +0.45% investment products dominated, capturing the lion's share of inflows, totaling $229 million, and bringing bitcoin funds’ year-to-date inflows to $842 million.

This latest surge is likely buoyed by an increasing likelihood of a spot-based bitcoin exchange-traded fund in the United States and weaker-than-expected macroeconomic data — calling into question the efficacy of U.S. monetary policy, CoinShares' Head of Research James Butterfill wrote.

However, short-bitcoin products also saw inflows of $4.5 million — indicating some investors remain skeptical about the sustainability of the recent rally.

Weekly crypto asset flows. Image: CoinShares.

Ether crypto funds and US investor comeback

Ether crypto funds generated the most inflows since August 2022 last week, totaling $17.5 million — a significant turnaround from a run of $107 million in outflows they have faced this year.

Solana and Chainlink products witnessed inflows of $11 million and $2 million, respectively, while Polygon and Cardano-based funds saw minor inflows of $0.8 million and $0.5 million.

In contrast to recent subdued flows compared to Europe, U.S. investors stepped up their game over the past week, contributing regional inflows of $157 million. Meanwhile, Germany, Switzerland and Canada continued steady participation, registering inflows of $63 million, $36 million and $9 million, respectively.