A leading digital assets manager says geopolitical risks are not keeping institutional crypto investors from adding to their positions in North America.
In its latest Digital Asset Fund Flows Weekly report, CoinShares says digital asset investment products enjoyed inflows of over $125 million last week.
“Digital asset investment products saw inflows totaling $127 million last week, an uptick on the previous week, suggesting investors remain supportive of digital assets despite recent geopolitical events.”
Leading crypto by market cap Bitcoin (BTC) saw the biggest inflows since December 2021 in its seventh consecutive week of inflows.
“Bitcoin saw inflows totaling $95 million last week, the largest single weekly inflow since early December 2021, and has now seen seven consecutive weeks of inflows.”
Altcoins Ethereum (ETH), Litecoin (LTC), Cardano (ADA) and XRP enjoyed inflows of $25 million, $0.4 million, $0.9 million, and $0.4 million, respectively. Multi-asset investment products enjoyed a similar fate.
“Multi-asset (multiple coins) investment products continued to see inflows which totaled $6.8 million last week. Multi-asset, on a relative basis, has seen the most inflows year-to-date, totaling $104 million…”
Most of the institutional investment inflows hailed from North America, canceling out the outflows in Europe.
“The positive sentiment was centered in North America with inflows totaling $150 million versus outflows in Europe totaling $24 million.”
Big-name altcoins such as Solana (SOL), Polkadot (DOT) and Binance Coin (BNB) also suffered outflows last week.
“Altcoin fortunes were mixed last week, with outflows from Solana ($1.7 million), Polkadot ($0.9 million), and Binance ($0.4 million).”
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Featured Image: Shutterstock/Tuso949/Natalia Siiatovskaia
Source: https://dailyhodl.com/2022/03/08/bitcoin-ethereum-cardano-and-xrp-witness-rise-in-institutional-capital-flows-during-geopolitical-tensions/