Between August 2 and 8, crypto funds attracted $572 million, bringing the year’s total inflow to over $30 billion, according to a new report by CoinShares.
The previous week, digital asset investment products experienced their first outflow in four months. The turning point came after U.S. authorities decided to include cryptocurrencies in 401(k) retirement plans—regulatory changes shifted the negative trend to a positive one.
Nevertheless, trading volumes fell by 23% compared to the previous month. Analysts attributed this to seasonal quietness.
The majority of the inflow was directed towards Ethereum funds, amounting to $268 million. Since the beginning of the year, these funds have received $8.2 billion. The assets under management in these structures have reached $32.6 billion, an 82% increase since January.
Bitcoin-based investment products ended a two-week streak of outflows, attracting $260 million.
Investors also focused on altcoins. Structures oriented towards SOL, XRP, and NEAR attracted $21.8 million, $18.4 million, and $10.1 million, respectively.
Among issuers, BlackRock’s Bitcoin ETF led the weekly inflow with $294 million. Funds from Grayscale, Bitwise, and ProShares attracted $87 million, $95 million, and $35 million, respectively.
Regionally, the U.S. led with $608 million. Canada followed with $16.5 million. In Europe, bearish sentiments prevailed: Germany, Sweden, and Switzerland recorded a combined outflow of $54.3 million.
On August 9, some of the most prestigious U.S. educational institutions—Harvard and Brown University—reported purchasing Bitcoin through an ETF.