Digital assets manager CoinShares says that institutional crypto investors poured millions of capital into digital asset investment products last week.
In its latest Digital Asset Fund Flows report, CoinShares says that the surge was likely caused by the remarks of Fed Chair Jerome Powell last week when he implied that lower interest rates could be on the way.
“Last week, digital asset investment products saw inflows totaling US$533m, marking the largest inflows in five weeks. This surge followed remarks by Jerome Powell at the Jackson Hole Symposium, where he suggested that the first interest rate cut could occur in September. Although trading volumes were lower than in recent weeks, they remained high, reaching US$9bn for the week.”
Source: CoinShares
Particularly, the massive inflows into Bitcoin (BTC)
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