Institutional investors were buying the dip on the back of China’s latest FUD, with digital asset investment products generating $95 million worth of inflows last week.
According to CoinShares’ Sept. 27 Digital Asset Fund Flows Weekly report, a surge in dip buying helped drive a sixth consecutive week of inflows for institutional crypto investment products broadly.
The $95 million worth of inflows between Sept. 20 and Sept. 24 marks a 126% weekly inflows increase. BTC and Ether investment products led the pack with $50.2 million and $28.9 million worth of inflows respectively.
While BTC investment products have seen outflows in 13 of the past 17 weeks, positive sentiment towards the asset rose during September as inflows were recorded for the past three weeks. Inflows to Bitcoin products also increased by 234% week-over-week.