A sixth consecutive week of inflows for crypto and digital asset investment products occurred last week, drawing in a mere $36 million.
According to the latest CoinShares report, the inflows persisted despite the ongoing conflict in Ukraine and the accompanying negative sentiment. The report highlighted that Bitcoin trading volumes on crypto exchanges trading the RUB/USD pair surged 121% week-on-week.
Understandably, flows were rather one-sided, with the Americas seeing inflows of $95 million, while European investment products saw outflows amounting to $59 million last week.
Coin flows
The major coins saw inflows last week, albeit in rather subdued amounts. For instance, inflows for Bitcoin-based investment products amounted to $17 million last week. This brings the total of the now fifth consecutive week of inflows to $239 million. Although Ethereum-based products only saw minor inflows amounting to just $4.2 million, it marks the second week in the past three with inflows, which had followed five straight weeks of outflows.
Alternatively, most altcoin-based investment products experienced outflows last week, however minor, which the report noted as unusual. Solana and Litecoin seemed to be the primary focus of negative investor sentiment, with outflows totaling $2.6 million and $500,000 respectively. Among the altcoin-based products, Tezos stood out as the only one with inflows this week, amounting to $4.4 million, which is 14% of assets under management.
Meanwhile, inflows for multi-asset investment products reached $14 million last week. The report highlighted these products as having been a “stalwart” this year, as year-to-date inflows of $83 million have even surpassed Bitcoin. Inflows also continued for blockchain equity funds last week with $8 million.
Last week, CoinShares had also remarked that inflows had continued despite the looming threat of conflict, just prior to the onset of the invasion. While Europe had still experienced inflows, some $101 million of last week’s $109 million in inflows went to the Americas.
Trusted
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
