CoinShares, Europe’s largest digital asset management company, published its weekly crypto fund report. Bitcoin funds received an investment of $519 million last week, while Ether funds had outflows. The biggest reason for the outflows here was the sales in Ether funds traded in the US. The size of the outflows in all of Grayscale’s crypto funds was $1.4 billion.

Outflows in Solana, the highest investment in Cardano…

The situation was positive in altcoins. With the exception of Solana funds, which saw sales of $ 2.7 million, altcoin funds closed the week positively. Cardano (ADA) funds received the most investment with a net investment of $1.2 million. Litecoin funds received investments of $600, XRP funds $500 and Chainlink funds $400 thousand.
On the other hand, ‘short-Bitcoin’ funds, which invested in the decline of the Bitcoin price, completed the week with an investment of $300 thousand.

“There are 2 reasons for investor confidence”

The report also stated that the reason for the recent inflows to cryptocurrency funds is the expectation of US elections and Fed interest rate cuts:

‘As CoinShares; With the possibility of Bitcoin becoming a reserve asset in the US election race, we think that the expectation that the Fed’s interest rate cuts will start in September has been effective in the investments in recent weeks’

On the other hand, the value of all crypto funds under the management of companies is approaching the $100 million mark. The total value of the funds was $99.1 billion.