Institutional investors were buying the dip on the back of Red china's latest FUD, with digital nugget investment products generating $95 million worth of inflows last week.

According to CoinShares' Monday "Digital Nugget Fund Flows Weekly" report, a surge in dip buying helped drive a sixth sequent week of inflows for institutional crypto investment products broadly.

The $95 meg worth of inflows between Sept. xx and Fri marks a 126% weekly inflows increment. Bitcoin (BTC) and Ether (ETH) investment products led the pack with $50.2 meg and $28.ix million worth of inflows, respectively.

While BTC investment products have seen outflows in thirteen of the by 17 weeks, positive sentiment toward the asset rose during September as inflows were recorded for the by 3 weeks. Inflows to Bitcoin products also increased by 234% week-over-week.

Institutional appetites for altcoins appear to remain strong, with products tracking Solana (SOL), Cardano (ADA) and Polkadot's DOT posting inflows of $3.9 million, $2.6 million and $two.4 million, respectively. Multi-nugget funds also saw inflows of $6.4 one thousand thousand this by calendar week.

Related: Crypto has recovered from China's FUD over a dozen times in the last 12 years

The great wall of FUD

On Friday, the People'due south Depository financial institution of China (PBoC) published a memo announcing a ban on all crypto transactions that triggered an 8% dip in the price of Bitcoin forth with a wider pullback across the crypto market.

The PBoC's updated measures — which were initially published on Sept. 3 earlier it was picked up by western media outlets concluding week — outlined that financial institutions and payment firms are barred from providing whatever services related to crypto transactions.

While FUD from Chinese regulators has historically impacted crypto markets, it has as well served as a catalyst for surging prices or balderdash runs in the subsequent months post-obit the announcements.

In September 2022, Cathay's government banned crypto exchanges from offering services to users in the state while besides barring citizens from participating in initial money offerings. Post-obit the double ban, the cost of BTC fabricated the historic climb from the $4,000 range to a then all-fourth dimension high toll of around $20,000.