Global crypto investment products raked in $1.65 billion over the first three days of the week, riding the latest surge in Bitcoin’s price. CoinShares says this wave of inflows is another clear sign that institutional investors are getting back in the game.

Where the Money’s Going: BTC and Ethereum

Almost $1 billion of the new capital flowed into Bitcoin-linked products. Another $478 million went straight into Ethereum. Basically, most of the fresh cash is piling into the two largest crypto assets on the market.

Two Weeks Running, 2024’s Biggest Weekly Haul

This marks the second week in a row of inflows. Last week alone, crypto funds attracted $2.94 billion. CoinShares notes that’s the biggest weekly inflow number since the start of the year.

Fed Uncertainty Driving the Action

According to CoinShares analysts, the renewed appetite for crypto products comes as investors grapple with uncertainty around the Federal Reserve’s policy moves. That’s helped spark a comeback in institutional demand—especially for Bitcoin and Ethereum products.