According to a recent report by CoinShares, digital asset investment products registered $136mln in inflows during the past seven days, bringing the 3-week figure to $470mln

Institutional investors have put half a billion worth of assets into digital asset investment products—mostly ones that hold Bitcoin—during the past three weeks, reversing the downturn that has been affecting crypto funds since April.

As per a recent report by CoinShares, digital asset investment products registered $136mln in inflows during the past seven days, bringing the 3-week figure to $470mln.

This half a billion eclipses and erases the previous nine weeks of outflows–bringing YTD flows to a bullish $231mln.

Digital asset investment company CoinShares follows the investment activity of important exchange-traded products, mutual funds, and OTC trusts, in cryptocurrencies like Bitcoin, Ethereum and other altcoins and publishes weekly report.

Glassnode observed that exchange inflows are at a cycle low, registering $2.3bln in deposits. Along with today’s CoinShares report, these figures indicate that institutions might be bullish.

Bitcoin is by far the most solicited asset, clocking $133mln in buying done by institutions in the last week. With weekly inflows for crypto-related investments hitting $136mln, the interest in the top digital asset accounts for a staggering 98 per cent of institutional investments.

In second place, Ethereum filed a mere $2.9mln on the week, registering a negative YTD outflow of $63mln.

Apart from Solana–which logged $1.2mln in inflows– almost every other altcoin saw less than $1mln in activity from institutional investors. Cardano was the only cryptocurrency that was driven by the bears, as per CoinShares, reporting $1.3mln in outflows.

Germany-based funds led the week, with $61.5mln in inflows, marking a solid $212mln in institutional activity on the year. The US ranked second over the past seven days, posting $55.9mln, followed by Canada and Switzerland, which recorded $11mln and $8.9mln respectively.

James Butterfill, head of research at Coinshares, suggested that in spite of this recent rise, volumes stay at seasonal lows.

The Northern Hemisphere typically dies down from July through August, stated Butterfil, showcased by investment products totalling $1bln on the week, down from $2.5bln in the previous two.