Crypto Funds See Inflows Globally Despite Exodus From European Products
Crypto funds saw net inflows last week, but there were stark regional differences during a volatile period in digital-asset markets as Russia invaded Ukraine.
Digital-asset investment funds saw $59 million of outflows in Europe, though their counterparts in the Americas netted inflows of $95 million during the week through Feb. 25, a report Monday from the digital-asset manager CoinShares showed.
Bitcoin funds saw inflows of $17 million last week, the fifth consecutive week of inflows. Ether funds saw minor inflows of $4.2 million, the CoinShares report said.
Crypto markets have been roiled by the Russian invasion of the Ukraine.
Bitcoin’s (BTC) price tumbled last week to below $35,000, but recovered quickly and has since pushed past $40,000
Ether (ETH), Ethereum blockchain’s native cryptocurrency, was at its lowest price point this month last Thursday when the war broke out, but it partly recovered to $2,766 on Friday.
Multi-asset investment products were the biggest winner last week, pulling in $14 million of fresh money.
Most altcoin funds saw outflows last week. Solana-focused funds lost $2.6 million. Funds focused on Tezos, however, netted $4.4 million of inflows.