This was the sixth week in a row that crypto and digital asset investment products had inflows, but only $36 million was brought in.
The newest CoinShares data shows that despite the ongoing war in Ukraine and the attendant bad sentiment, inflows have continued. Bitcoin trade volumes on crypto exchanges dealing the RUB/USD pair increased by 121 percent week-on-week, according to the research. The Americas received $95 million in inflows, while European investment products received $59 million in outflows last week.
Coin moves freely
The biggest cryptocurrencies experienced some inflows last week, although they were quite modest in scale. Investing in Bitcoin products brought in $17 million last week, for example. This takes the overall inflows to $239 million for the fifth week in a row. Although Ethereum-based products saw only $4.2 million in inflows, this is the second week in the past three weeks that there have been inflows, following five straight weeks of outflows for the cryptocurrency.
Alternately, the survey found that, despite their small size, outflows from most altcoin-based financial products occurred last week. Outflows of $2.6 million and $500,000 were recorded for Solana and Litecoin by investors, respectively. Tezos was the only altcoin-based product to net inflows of $4.4 million, or 14% of assets under management, this week.
In addition, multi-asset investment products saw inflows of $14 million throughout the course of the week. According to the research, the year-to-date inflows of $83 million have even eclipsed Bitcoin, making these products a “stalwart.” With an additional $8 million, blockchain equities funds saw their inflows continue last week.
Prior to today’s invasion of Iraq, CoinShares had also noted that inflows had maintained despite looming threats of conflict. Last week’s inflows totaled $109 million, with a net inflow of $101 million going to the Americas.
Highlights
- Last week, only $36 million was invested in digital asset investment products for the sixth week in a row.
- The newest CoinShares data shows that despite the ongoing war in Ukraine and the attendant bad sentiment, inflows have continued.
- Bitcoin trade volumes on crypto exchanges dealing the RUB/USD pair increased by 121 percent week-on-week, according to the research.
***
