Last week, crypto and digital asset investment products received $36 million in inflows for the sixth week in a row.
Despite the ongoing turmoil in Ukraine and the negative attitude that has accompanied it, according to the latest CoinShares report, inflows have continued. Bitcoin trade volumes on crypto exchanges dealing the RUB/USD pair increased by 121 percent week over week, according to the research.
Inflows into the Americas were $95 million last week, while outflows into European investment products totaled $59 million.
Last week, the major coins witnessed in-flows, albeit in small sums. Last week, for example, inflows into Bitcoin-based financial products totaled $17 million. This takes the overall in-flows for the fifth week in a row to $239 million. Despite the fact that Ethereum-based products only received $4.2 million in in-flows, this is the second week in a row that inflows have occurred after five weeks of outflows.
In contrast, most altcoin-based financial products saw inflows last week, though they were minimal, according to the research. Solana and Litecoin appeared to be the biggest targets of bearish investor sentiment, with $2.6 million and $500,000 in withdrawals, respectively.
Tezos was the only altcoin-based product with inflows this week, totaling $4.4 million, or 14% of assets under management.
Last week, in-flow into multi-asset investment products totaled $14 million. These products have been a “stalwart” this year, according to the report, with year-to-date inflows of $83 million surpassing Bitcoin. Last week’s in-flows for blockchain equities funds totaled $8 million.
CoinShares had also stated last week, just ahead to the invasion, that inflows had persisted despite the growing prospect of conflict.
While in-flows to Europe continued, the Americas received $101 million of the $109 million inflows last week.
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