European crypto investment products recorded outflows totalling $59 million last week 🚨 This article is 3 years old...
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European crypto investment products recorded outflows totalling $59 million last week
While the European investment products saw outflows last week, the Americas, notably Canada and Brazil, recorded inflows.
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Updated: Mar. 14, 2022 at 12:46 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Despite the raging conflict in Eastern Europe, crypto investment products saw inflows totaling $36 million in the week ending February 28, according to the latest report by institutional crypto fund manager CoinShares.
However, the report which analyzes weekly flows into crypto asset funds observed regional variances–while the Americas saw inflows, European investment products recorded outflows.
Multi-asset investment products continue surpassing Bitcoin with year-to-date inflows
Crypto investment products saw inflows totaling $36 million last week, but regionally speaking those flows were one-sided.
While the Americas, notably Canada and Brazil, saw inflows totaling $95 million last week, European investment products recorded $59 million in outflows.
“Interestingly, volumes in Bitcoin crypto exchanges that trade the RUB/USD pair have seen volumes rise by 121% week-on-week,” CoinShares pointed out in the report.
While $17 million poured into Bitcoin investment products last week, the largest cryptocurrency by market cap entered its 5th consecutive week of inflows totaling $239 million.
Meanwhile, Ethereum saw minor inflows totaling $4.2 million.
Last week, blockchain equity funds continued to see inflows totaling $8 million, while $14 million poured into multi-asset investment products.
Multi-asset investment products “have been a stalwart this year, with year-to-date inflows surpassing Bitcoin at $83 million,” concluded CoinShares.
The only altcoin investments product that recorded inflows was Tezos
However, institutional investor interest was less favorable when it comes to altcoin investment products, with most recording outflows last week.
According to the report, “Solana and Litecoin were the primary focus of negative investor sentiment.”
While Solana saw outflows totaling $2.6 million, Litecoin investment products followed–recording $0.5 million of outflows.
However, there was one outlier amongst the alts last week, the report pointed out.
Tezos, also referred to as the first “self-amending” blockchain, surfaced as the only altcoin investment product that recorded inflows, which totaled $4.4 million–accounting for 14% of assets under management (AuM).
Meanwhile, Cardano, Ripple, Polkadot, and Binance investment products all saw minor outflows–totaling $0.3 million, $0.2 million, $0.1 million, and $0.1 million respectively.
