US equity funds draw $20.6B in second straight weekly inflow

Two consecutive weeks of inflows, even as the latest total runs well below the prior week's, suggests AI exposure remains the primary magnet for US equity allocations rather than a broad risk-on turn. That distinction matters for crypto and RWA markets, which have increasingly been pitched as adjacent expressions of the same compute-and-infrastructure theme. The open question is whether the cooling in weekly demand reflects a pause or the start of a rotation, and whether softer inflation data keeps Treasury yields from reasserting themselves as the dominant macro variable.