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Bitcoin (CRYPTO: BTC) investment products attracted $724 million in fresh inflows last week, marking a sharp reversal after five consecutive weeks of outflows, according to CoinShares' report on Monday.
What Happened: The surge comes as the broader digital asset investment market recorded $644 million in inflows, snapping a prolonged trend of investor withdrawals that totaled $5.4 billion for Bitcoin alone over the previous five weeks.
CoinShares noted that inflows were recorded every single day last week, signaling what it called a "decisive shift in sentiment" towards cryptocurrencies.
"The recovery in inflows marks renewed optimism in crypto markets," wrote James Butterfill, head of research at CoinShares.
The U.S. dominated the rebound, contributing $632 million of the total inflows. Switzerland, Germany and Hong Kong also participated, registering inflows of $15.9 million, $13.9 million, and $1.2 million, respectively.
Why It Matters: While Bitcoin was the standout, alternative digital assets experienced mixed investor appetite.
Ethereum (CRYPTO: ETH) saw outflows of $86 million, the most significant withdrawal among altcoins, continuing a cautious trend among Ether investors.
Other networks such as Sui (CRYPTO: SUI), Polkadot (CRYPTO: DOT), Tron (CRYPTO: TRON), and Algorand (CRYPTO: ALGO) also posted minor outflows.
Conversely, Solana (CRYPTO: SOL) bucked the trend among altcoins, gaining $6.4 million in fresh capital, while Polygon (CRYPTO: MATIC) and Chainlink (CRYPTO: LINK) followed with $0.4 million and $0.2 million in inflows, respectively.
Short-Bitcoin products, which benefit from declining BTC prices, also saw $7.1 million in outflows, adding to the signs of a market turnaround.
The latest data shows assets under management in crypto investment products have risen 6.3% since bottoming out on March 10, according to CoinShares.
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