Inflows into crypto investment products continue for the third week, as funds attract $1.2 billion, the highest figure since July.

A weekly report from CoinShares shows that digital assets saw an inflow of $1.2 billion last week amid increased investor traction. This marked the third consecutive week that crypto investment products saw an inflow and the highest since the third week of July.

Per the report, the surging inflows were congruent with the favorable macroeconomics in the United States. For context, the Federal Reserve System (Fed) recently reduced interest rate by 50 basis points (bps), as inflation woes prevailed. This action spread dovish sentiments among investors, driving exposure to digital assets like Bitcoin. Furthermore, the inflows were also associated with the approval of options contracts for certain US Bitcoin spot ETFs. For context, the US Securities and Exchange Commission (SEC) approved the options trading on the BlackRock iShares Bitcoin Trust (IBIT) on September 20.

The inflows between September 23 and 29 saw the assets under management (AUM) of crypto products increase 6.2% to $92.7 billion. However, trading volume on these investment vehicles declined 3.1% week-to-week.

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