Last weeks’ analysis by the crypto management firm CoinShares displayed an influx of digital asset investments amidst conflicts in the CIS region.
With the market being quite favorable for bearish investors, Bitcoin became the primary target of buying the dip last week. However, Ethereum struggled to pull its weight, with purchases reaching only $15.2M from last weeks’ total crypto inflows of $109M.
Based on the report published by CoinShares, investments kept coming in high volumes “despite recent price weakness and perceived negative impact from the looming conflict…”
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While Ethereum struggled to keep up the pace, other similar digital assets have shown much better results.
For instance, Avalanche raked in $25M inflows over the past week, while multi-asset and Solana investments brought in $9.4M and $1.2M each. Likewise, blockchain equities were still on the rise, bringing in $26 million in investments.
However, Bitcoin took the top spot, bringing in $88.5M investments amidst conflicts happening in Eastern Europe, and the price becoming quite fragile, crashing 13.53% over the past week, currently sitting at an average price of $38,116.75.
Likewise, inflows from institutional providers reached a total of $109.3M investments, with Purpose taking the top spot by reaching $63.2M, while other providers like ProShare brought in $26.6M inflows.
While Bitcoin managed to keep up its popularity, according to CoinShares, its inflows “remain tepid, with the last 5 weeks of inflows totalling US$221m, representing 0.7% of total assets under management (AuM).”