According to data from CoinShares, global crypto funds from asset management companies such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares rebounded for the second consecutive week, with net inflows of US$321 million last week, following two consecutive weeks of net outflows.
“The surge was likely driven by comments from the Federal Open Market Committee (FOMC) last Wednesday, which took a more dovish stance than expected, including a 50 basis point rate cut,” James Butterfill, head of research at CoinShares, wrote in a note Monday.
As a result, total assets under management for these funds increased by 9%, and trading volume also increased by 9% from the previous week to $9.5 billion, Butterfield added.
