Despite the geopolitical situation and market volatility last week, institutional investors poured $36 million into crypto products, according to a new report from CoinShares.
Analysts at CoinShares reported that a total of $95 million was recorded in US cryptocurrency trusts last week, while a total of $59 million was withdrawn from European investment products.
Interestingly, investors withdrew money from altcoin products and invested in funds for bitcoin, ether, and multicurrency trusts. They raised $17.3 million, $4.2 million and $14 million, respectively.
Of the altcoins, only Tezos showed a significant inflow of funds – $4.4 million was invested in products for this cryptocurrency, which is 14% of the capitalization of funds. Solana products showed the largest outflow of funds – $2.6 million. The outflow of money from other products for altcoins does not exceed $0.5 million.
As analysts noted, the influx of funds into investment products for bitcoin has been going on for the fifth week and amounted to $239 million during this time. $89 million more than Bitcoin trusts.
Earlier, the founder of Crypto Pragmatist, Jack Niewold, said that in the short term, any military action could have a positive impact on the bitcoin rate. Over the past day, the rate of the first cryptocurrency increased by 14%.
Source: Bits
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