Inflows into crypto-related investment products continued for the third consecutive week, with $1.2 billion flowing into the sector, according to CoinShares’ latest weekly report.
James Butterfill, CoinShares’ head of research, attributed the strong inflows to expectations of a dovish US monetary policy and positive market momentum. These factors pushed total assets under management up 6.2% to $92.7 billion.
The US Securities and Exchange Commission approved options trading for BlackRock’s spot Bitcoin ETF, which also lifted market sentiment. Despite these inflows, weekly trading volume in the sector dipped by 3.1%.