Amidst the geopolitical tensions that stem from the Russia-Ukraine war, it looks like the big players continue to pour money into the crypto market. Here are the latest reports about where institutional money is going these days.
It’s been just revealed that an important digital assets manager said that crypto investment products suffered nearly $50,000,000 in outflows last week despite inflows to altcoins.
In the latest Digital Asset Fund Flows Weekly report, CoinShares explained that most of last week’s outflows originated in North America.
“Digital asset investment products saw outflows for the second consecutive week, totaling US$47m last week. The same trend continued with outflows predominantly coming from North American providers, with outflows comprising 98% while flows in Europe were broadly flat. We believe the recent negative sentiment in North America is due to continued jitters overregulation and geopolitical issues caused by the Ukrainian conflict.”
Investment products associated with BTC saw the heaviest outflows
According to the same official reports, the investment products associated with leading crypto asset Bitcoin (BTC) suffered the heaviest outflows last week.
“Bitcoin saw the largest outflows, totaling US$33m, half the amount seen the previous week. This last two weeks of outflows now total US$101m, but year-to-date flows remain positive at US$64m.”
The same report notes that Ethereum (ETH) investment products were also hit by the market uncertainty while suffering far fewer outflows than they had the week prior.
“Ethereum saw outflows totaling US$17m last week.”
The report explained that this means much less than the previous week, which saw outflows of US$50m.
According to the notes, the big winners were a bit unexpected: XRP, Polkadot (DOT), Solana (SOL), and Litecoin (LTC), taking in $1.1 million, $0.8 million, $0.7 million, and $0.3 million, respectively.
At the moment of writing this article, the most important digital assets out there are mostly trading in the green.
