Renewed Confidence in Crypto Products Amid Ongoing Conflict Sees $127M in Crypto Inflows This Week

Renewed Confidence in Crypto Products Amid Ongoing Conflict Sees 7M in Crypto Inflows This Week

The seventh consecutive week of inflows into digital asset investment products amounted to $127 million last week.

A more than threefold increase over last week’s gains, the latest CoinShares report suggests that “investors remain supportive of digital assets despite the recent geopolitical events prompting a sell-off in risk assets.” Similarly to previous weeks, most of these inflows occurred in North America, totaling $151 million last week, while Europe continued to see outflows of $24 million.

Coin flows

Sharing a similar streak of seven weeks, Bitcoin-based investment products saw inflows amounting to $95 million last week, the largest over the course of a single week since December 2021. Ethereum-based products also saw the largest inflows for 13 weeks, totaling $25 million last week, notably following a bout of negative sentiment since the end of last year.

Also seeing inflows of $8.6 million last week, the report highlighted that multi-asset investment products have seen the most inflows year-to-date on a relative basis, totaling $104 million, which represents 3.6% of assets under management.

Meanwhile, flows for altcoins showed mixed results overall last week. While Solana, Polkadot, and Binance experienced outflows of $1.7 million, $900,000 and $400,000 respectively, Litecoin, Cardano and XRP saw inflows totaling $400,000, $900,000 and $400,000 respectively. Finally, blockchain equities experienced inflows amounting to $7.7 million last week.

During the week prior, crypto investment products still managed to experience inflows, despite the escalation of the conflict in Ukraine, albeit only a mere $36 million. The report had highlighted that Bitcoin trading volumes on crypto exchanges trading the RUB/USD pair surged 121% week-on-week. 

Flows were rather lopsided, with the Americas seeing inflows of $95 million, while European investment products in Europe saw outflows amounting to $59 million. However, the week prior to that at the outset of the invasion, Europe was still experiencing inflows, although some $101 million of that week’s $109 million in inflows had gone to the Americas.

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