Flows into cryptocurrency investment products, especially Bitcoin and Ethereum, continued to rise in tandem with institutional investors regrouping and building positions despite the market turmoil as a result of Russian invasion of Ukraine.
Crypto funds registered a significant increase in inflows last week, indicating that institutional investors are still gaining exposure to digital assets despite the extreme volatility in Market.
Digital asset investment products posted $36 million in cumulative inflows for the week ending Sunday, according to Coinshares data, which CoinTelegraph also reported.
Regionally, new investment was largely one-sided, with the Americas seeing $95 million in outflows and European investment products recording $59 million in outflows. .
Bitcoin (BTC) product inflows increased by $17 million, marking the fifth consecutive week of inflows totaling $239 million during that period. . While Ethereum (ETH) products saw slight inflows of $4.2 million.
Investors reduced their holdings of most altcoin products, with Solana (SOL) and Litecoin (LTC) funds reporting outflows of $2.6 million and $500,000, respectively. .
Bitcoin product inflows have turned positive for 2022, in a sign that institutional investors are regrouping after a period of high volatility. They continued to buy shares in bitcoin funds last week even as tensions escalated in Eastern Europe as Russia launched military operations in neighboring Ukraine.
According to Coinshares data, the volumes of cryptocurrency exchanges trading in the Russian ruble rose 121% over the past week.
Cryptocurrency markets appeared unaffected by geopolitical tensions on Monday, even as stocks succumbed to fresh selling pressure. Bitcoin price is trading as high as $41,476 per day, according to Cointelegraph Markets Pro and Trading View. Meanwhile, shares are down more than 1%.
Data from Cointelegraph Markets Pro also revealed a significant rise in trading volumes, with the rate of bitcoin transaction renewal 27% higher than the average.
