Crypto Investment Funds Attract $36M Despite Market Turmoil

Inflows into cryptocurrency investment funds surged last week, suggesting that institutional investors are still gaining exposure to digital assets amid extreme market volatility.

Data from CoinShares showed that in the week ending last Sunday, digital asset investment products saw cumulative inflows of $36 million. From a regional perspective, new investment was heavily one-sided, with US$95 million inflows from the Americas and US$59 million outflows from European investment products.

Inflows into bitcoin products rose by $17 million, the fifth straight week of inflows. Ethereum products saw a small inflow of $4.2 million. Investors pared most altcoin offerings, with Solana (SOL) and Litecoin (LTC) funds seeing outflows of $2.6 million and $0.5 million, respectively.

In 2022, inflows into Bitcoin products have turned positive, suggesting that institutional investors are re-accumulating after a period of high volatility. They continued to buy BTC funds last week, even as tensions in Eastern Europe escalated with Russia's military campaign in neighboring Ukraine. Trading volume on cryptocurrency exchanges trading in the Russian ruble has surged 121% in the past week, according to CoinShares.

The crypto market appeared to be unfazed by geopolitical tensions on Monday, even as stocks came under fresh selling pressure. According to data from Cointelegraph Markets Pro and TradingView, the price of Bitcoin had reached as high as $41,476 on the day. Meanwhile, stocks fell more than 1%.

The price of Bitcoin is trying to overcome a sharp downtrend that began last November Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro also shows that bitcoin trading volumes have risen sharply, 27 percent above average.

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