Bitcoin drives $1.4B crypto fund surge

Crypto investment products recorded $1.4 billion in inflows last week, marking the second-strongest weekly total since January as rising Bitcoin prices boosted sentiment.

The surge follows a three-week streak of $2.7 billion in inflows, pushing year-to-date totals to $3.8 billion and lifting assets under management to $154.8 billion.

The gains were driven by improving risk appetite linked to US-Iran ceasefire optimism and a breakout in Bitcoin, which nearly reached $78,000.

“The uptick in crypto funds has likely been driven by a recovery in risk appetite on US-Iran ceasefire extension talks,”

Said James Butterfill.

Bitcoin products dominated flows with $1.12 billion in inflows, largely from US spot ETFs, while Ether products added $328 million to turn positive year-to-date.

Altcoin products lagged, with XRP seeing $56 million in outflows and Solana recording smaller redemptions.

CoinShares noted that easing inflation concerns and improving sentiment, reflected in a rising Crypto Fear & Greed Index, are supporting cautious optimism in crypto markets.

At the time of reporting, Bitcoin price was $75,754.46.