According to a recent report from a leading digital assets manager, geographical tensions have not been able to stop institutional investors from increasing their crypto positions in North America.
As shared by CoinShares in its latest Digital Asset Fund Flows Weekly report, over $125 million flowed into digital investment products last week.
The report reads in part as follows:
“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.”
The flagship cryptocurrency, Bitcoin (BTC) saw the largest inflows since December 2021 in its 7th 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 such as 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.
According to the report, most of the institutional investment inflows hailed from North America, canceling out the outflows in Europe.
“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…”
“The positive sentiment was centered in North America with inflows totaling $150 million versus outflows in Europe totaling $24 million.”
On the other hand, a number of top cryptocurrencies, including Solana (SOL), Polkadot (DOT), and Binance Coin (BNB), suffered whopping 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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