According to Coinshares’ latest weekly report, the digital asset fund continued its winning streak last week, raising $1.9 billion in new investments.
This will actively inflows of week 9, boosting the cumulative total over the period to $12.9 billion. Future digital asset investment products are seeing a record inflow of $13.2 billion.
James Butterfill, head of research at Coinshares, said these flows showed investors appear to be moving past the fears of the broader market, including geopolitical tensions in the Middle East.
Bitcoin sees strong rebounds, Ethereum shines
Bitcoin led the rally with a new $1.3 billion inflow, turning back the short-lived recession that saw its second-week straight outflow.
Turnaround Signals have renewed investor confidence despite the geopolitical risks between Israel and Iran remaining unresolved. This suggests that investors appear to be betting on the long-term value of Bitcoin, and consider it a safe haven alternative.
At the same time, short Bitcoin products saw inflows on a small scale. These financial investment instruments added fresh capital last week of $3.7 million, but the total assets under management remained unchanged at around $96 million.
Coinshares said the Ethereum-related investment products continued to perform impressively, bringing in $583 million per week. This is the best weekly flow since February.
Despite this impressive performance, the momentum of the Ethereum-centric US-spot ETF has been cooled slightly. On June 13, the 19-day inflow ended with a $2.1 million outflow of nine products.
Still, cumulative inflows into ETH financial instruments amount to $2 billion, accounting for 14% of AUM.
Meanwhile, other major altcoins also saw heavy investments last week.
Coinshares reported that the XRP-focused fund has finished its three-week outflow streak, with a fresh $11.8 million inflow finished, and SUI continues its upward trajectory and adds $3.5 million.
Western markets drive growth amid the uncertainty of the Middle East
The US led regional inflow charges, totaling $1.9 billion.
Other Western countries, such as Germany, Switzerland and Canada, followed inflows of $39.2 million, $20 million and $12.1 million, respectively.
These figures reflect a strong wave of institutional trust in the Western market amid the global unrest in the Middle East.
Meanwhile, the Asian and South America regions have listed outflows. Hong Kong has withdrawn its $56.8 million digital assets fund, with Sweden and Brazil seeing $16.7 million and $8.5 million outflows.