CoinShares Report: Net Inflows Led by Bitcoin Totaled $436 Million Last Week
English Translation:
Gold Finance reported that crypto investment products saw a rebound in capital inflows last week, with Bitcoin leading the way with net inflows of $4.36 billion, according to a recent CoinShares report.
Following two consecutive weeks of outflows, crypto funds from asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares saw positive capital flows in the week ending September 13. CoinShares attributes this to market expectations of a rate cut by the Federal Reserve.
In the latest "Digital Asset Fund Flows Weekly" report, James Butterfill, Head of Research at CoinShares, wrote: "We believe that the surge in inflows this past week is driven by a material shift in market expectations that the Fed will cut rates by 50 basis points on September 18th."