Crypto Funds See Inflows Globally Despite Exodus From European Products

A net $36 million went into digital-asset funds last week with major outflows in Europe but large inflows in the Americas.

AccessTimeIconFeb 28, 2022 at 6:40 p.m. UTC
Updated Feb 28, 2022 at 7:26 p.m. UTC

Angelique is a market contributor at CoinDesk.

Crypto funds saw net inflows last week, but there were stark regional differences during a volatile period in digital-asset markets as Russia invaded Ukraine.

Digital-asset investment funds saw $59 million of outflows in Europe, though their counterparts in the Americas netted inflows of $95 million during the week through Feb. 25, a report Monday from the digital-asset manager CoinShares showed.

Bitcoin funds saw inflows of $17 million last week, the fifth consecutive week of inflows. Ether funds saw minor inflows of $4.2 million, the CoinShares report said.

Crypto markets have been roiled by the Russian invasion of the Ukraine.

Bitcoin's (BTC) price tumbled last week to below $35,000, but recovered quickly and has since pushed past $40,000

Ether (ETH), Ethereum blockchain’s native cryptocurrency, was at its lowest price point this month last Thursday when the war broke out, but it partly recovered to $2,766 on Friday.

Multi-asset investment products were the biggest winner last week, pulling in $14 million of fresh money.

Most altcoin funds saw outflows last week. Solana-focused funds lost $2.6 million. Funds focused on Tezos, however, netted $4.4 million of inflows.

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Angelique is a market contributor at CoinDesk.

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Angelique is a market contributor at CoinDesk.