Global crypto investment products managed by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares witnessed net inflows of $716 million last week, according to CoinShares' data.

That marked the second consecutive week of net inflows after attracting $1.07 billion the prior week, which, in conjunction with outflows from short exchange-traded products, hints at easing negative sentiment, CoinShares Head of Research James Butterfill said in a Monday report.

However, the majority of the positive flows came early in the week, and the crypto funds slipped into minor outflows on Thursday and Friday in what Butterfill suggested was a response to macroeconomic data in the U.S. alluding to ongoing inflationary pressures.