Cryptocurrency investment funds recorded a sizable increase in inflows last week, signaling that institutional investors were still gaining exposure to digital assets despite extreme volatility in the market.
Digital asset investment products registered $36 million in cumulative inflows for the week ending Sunday, according to CoinShares data. Regionally, new investments were heavily one-sided, with the Americas seeing $95 million worth of inflows and European investment products registering $59 million in outflows.
Inflows into Bitcoin (BTC) products increased by $17 million, marking the fifth consecutive week of inflows totaling $239 million over that period. Ether (ETH) products saw minor inflows at $4.2 million.
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Investors reduced their holdings of most altcoin products, with Solana (SOL) and Litecoin (LTC) funds registering $2.6 million and $500,000 in outflows, respectively.
Inflows into Bitcoin products have flipped positive for 2022, a sign that institutional investors were re-accumulating after a period of significant volatility. They continued to buy into BTC funds last week even as tensions in Eastern Europe escalated with Russia launching military operations in neighboring Ukraine.
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According to CoinShares data, volumes on crypto exchanges that trade in Russian Rubles soared 121% over the past week.
Crypto markets appeared unaffected by geopolitical tensions on Monday even as equities succumbed to fresh selling pressure. The Bitcoin price traded as high as $41,476 on the day, according to Cointelegraph Markets Pro and TradingView. Stocks, meanwhile, were down over 1%.
Data from Cointelegraph Markets Pro also revealed a sizable uptick in trading volumes, with BTC turnover 27% higher than average. - Cointelegraph.
