Digital investment products attracted $ 90 million in new money in the seven days last Friday for the seventh straight week.
Bitcoin-focused funds raised $ 69 million, according to a report released Monday by CoinShares. It was the third straight week of inflows for bitcoin funds, pushing cumulative inflows to $ 115 million over the period and cementing a turnaround from months ago when withdrawals were the norm.
“We believe this crucial shift in sentiment is due to growing investor confidence in the asset class and more accommodating statements from the US Securities and Exchange Commission and the Federal Reserve,” the report wrote.
Crypto funds focused on Ethereum, the second largest blockchain, saw $ 20 million in inflows.
Alternative digital assets appeared to be showing waning interest. Funds focused on the Binance, Polkadot and Tezos BNB tokens saw minor outflows of $ 800,000 each. Cardano-focused funds saw modest inflows of $ 1.1 million while Solana attracted $ 700,000.