CoinShares, a European asset management firm, has reported the largest inflows into cryptocurrency investment products since July 2022. Last week, $199 million poured into funds, correcting almost half of the outflows seen in the previous nine weeks. This renewed positive sentiment is believed to be due to recent announcements from high-profile ETP issuers filing for physically backed ETFs with the US Securities & Exchange Commission. Bitcoin received the most inflows, totaling $188 million, while short-bitcoin experienced outflows for the ninth consecutive week. Ethereum saw inflows of $7.8 million, indicating a lower appetite for it compared to bitcoin. Altcoins like XRP and Solana experienced only minor inflows. However, some investors were encouraged to buy multi-asset investment ETPs, resulting in $8 million in inflows. CoinShares also noted that total assets under management across fund managers have reached $37 billion, the highest level since before the collapse of 3 Arrows Capital.
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