According to CoinShares, digital asset investment products attracted $109 in inflows last week, despite ” price decline and the expected negative impact of the upcoming Eastern European crisis.” Despite a market-wide sell-off in key crypto assets, institutional traders pumped $89 million into Bitcoin (BTC) funds during the previous week. The money men, on the other hand, were unsuccessful in their attempt to restrict Ethereum (ETH) investment products. Thus, this resulted in $15.2 million in withdrawals. Despite the fact that Bitcoin network activity is down 30% from its ATH levels three months ago, digital gold appears to be the commodity of choice by sophisticated investors lately, according to statistics released earlier this week.
Bitcoin’s new funds
According to CoinShares’ Feb. 22 “Digital Asset Fund Flows Weekly” report, BTC funds have now received a total of $178.3 million this month, following the recent $89 million deluge between Feb. 14 and Feb. 18. For instance, thus far in February, Ether investment products have seen total outflows of $2.6 million. There have only been one week of inflows in the previous 11 weeks. BTC has lost 14.6 percent to nearly $38,000 in the previous seven days. Meanwhile, Ether dropped 16.2 percent to $2,668 at the time of writing. The top assets that have dropped double digits are Cardano (ADA), Solana (SOL), and Ripple (XRP).
According to CoinShares, despite “price drops and the projected negative impact of the looming crisis in Eastern Europe,” digital asset investment products in general received $109 in inflows last week. Institutional investors bought Avalanche-related financial products for $25 million. While multi-asset and Solana funds made $9.4 million and $1.2 million, respectively.
While both Europe and the Americas saw inflows, the latter received the lion’s share of the money, with inflows totaling US$101 million.” The CoinShares XBT fund lost $21.6 million, while institutional asset managers and fund providers poured $63.2 million and $26.6 million into Purpose and ProShares, respectively.
