Bitcoin experienced $543 million in inflows last week, according to CoinShares
This followed favorable comments from Federal Reserve Chair Jerome Powell.The majority of these inflows occurred on Friday, after Powell's dovish comments. Powell expressed confidence that U.S. inflation could return to 2% while indicating the central bank may lower interest rates.These comments appeared to push Bitcoin's price higher. Bitcoin has since climbed from below $61,000 to about $53,500, according to The Block Price Page. For August, Bitcoin inflows now sit at $225 million.The Fed Chair's comments also benefited crypto investment products more broadly. Digital asset investment products saw inflows totaling $533 million, marking the largest inflows in five weeks. Bitcoin-focused ETFs offered by BlackRock led with $346 million in inflows.The U.S. led inflows into digital asset investment products with $498 million. Hong Kong and Switzerland rounded out the top three nations with $16 million and $14 million respectively.Roughly a month since the newly created Ethereum-based ETFs launched, these products have brought in $3.1 billion in cumulative inflows, offset by Grayscale's ether-based product shedding $2.5 billion.