Institutional investors just poured an overall total of $1.06 billion into Bitcoin and crypto assets in one week, according to a new update from Coinshares.
This marks a sharp turnaround after $5.7 billion of outflows across four straight weeks.
CoinShares attributes the shift in part to comments from FOMC member John Williams, who called monetary policy restrictive and sparked hopes for a US interest rate cut this month.
Asset-wise, Bitcoin drew $461 million in inflows, while short-Bitcoin ETPs shed $1.9 million as bets on price drops reversed.
Ethereum pulled in $308 million and XRP hit a record $289 million weekly inflow, with six-week gains equaling 29% of its assets under management, tied to recent US ETF launches.
Solana witnessed $4 million of inflows while, Cardano faced $19 million of outflows, or 23% of total assets under management.
By region, the U.S. led with $994 million in inflows despite low volumes. Canada added $97.6 million, and Switzerland saw $23.6 million. Germany bucked the trend with $57.3 million in outflows.
Trading volumes in digital asset ETPs dropped to $24 billion last week, hit by Thanksgiving, down from a record $56 billion the prior week.
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Featured Image: Shutterstock/Andrey Suslov/Nikelser Kate
