The analytical company CoinShares reported that against the backdrop of geopolitical tensions in Eastern Europe, investors were actively investing in bitcoins, ether and some altcoins.
CoinShares posted a weekly report on March 7 saying that investors have increased their positions in crypto funds around the world, generating $127 million in weekly capital gains.
As in the previous week, positive sentiment was concentrated mainly in the US, with $151 million inflows and $24 million outflows in Europe.
The authors of the report clarify that the influx of bitcoins last week amounted to $95 million, which was the best weekly result since the beginning of December 2021. Ethereum has seen a $25 million inflow in the last week, the biggest in 13 weeks.
The report says that multi-asset investment products continued to see inflows of $8.6 million last week. Multi-currency funds posted their best performance since the start of the year in relative terms, plus $104 million or 3.6% of assets under management (AuM).
Altcoins had mixed success last week: outflows from Solana ($1.7 million), Polkadot ($0.9 million), Binance ($0.4 million) and at the same time inflows from Litecoin, Cardano and XRP in the amount of $0.4 million, $0.9 million and $0.4 million, respectively. Stocks of blockchain companies monitored by CoinShares have raised a combined $7.7 million over the past week.
In a previous report, CoinShares noted that despite the geopolitical situation and market volatility, institutional investors have invested $36 million in cryptocurrency products.
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.