Global crypto funds rebound with nearly $900 million in net inflows last week

Cumulatively, crypto-based investment vehicles rebounded significantly last week by registering $862 million in net inflows, according to CoinShares analyst James Butterfill, who posted the data on X.

The previous week , funds managed by asset managers such as BlackRock, Fidelity and Grayscale reported record outflows of $942 million, CoinShares said at the time.

With last week's boost in net inflows and bitcoin's price climbing above $70,000 for much of last week, the combined assets under management for all the crypto funds tracked by CoinShares hit $97.9 billion.

Capital pouring into bitcoin-related funds continues to make up for the lion's share of activity. BlackRock and Fidelity's spot bitcoin ETFs each registered more than $600 million of inflows last week, according to CoinShares. Grayscale's spot bitcoin ETF witnessed $960 million in outflows, bringing its assets under management to about $35 billion. 

The Ark Invest 21 Shares spot bitcoin had an exceptional week, registering more than $300 million in net inflows. The previous week, the fund — which now has over $3 billion in assets under management — brought in a mere $30 million of capital inflow.