Crypto-Fund Inflows Tripled Last Week to Highest in Almost Three Months

A net $127 million went into digital-asset funds during the week ended March 4, with minor outflows in Europe and large inflows in the Americas.

AccessTimeIconMar 7, 2022 at 5:29 p.m. UTC
Updated Mar 10, 2022 at 4:12 p.m. UTC

Angelique is a market contributor at CoinDesk.

Fresh investment inflows into crypto funds jumped threefold last week to the highest in almost three months, despite outflows from European products.

Digital-asset investment funds attracted $127 million of new money during the week through March 4, a report Monday from the digital-asset manager CoinShares showed. The regional breakdown comprised $151 million of inflows in the Americas and outflows of $24 million in Europe.

Last week's inflows came as the bitcoin market appeared to stabilize, after a few weeks of turbulence sparked by Russia's invasion of Ukraine.

"Investors remain supportive of digital assets despite the recent geopolitical events," CoinShares wrote in the report.

The bitcoin (BTC) price spiked to as high as $44,767 last week after reaching a monthly low of $34,652 on Feb. 24. The price was around $39,500 at press time.

Ether (ETH), Ethereum blockchain’s native cryptocurrency, went as high as $3,015 on March 1, but is now down to $2,614.

Bitcoin funds saw inflows of $95 million last week, the most since early December. Ether funds saw minor inflows of $25 million, the most in 13 weeks, and potentially a sign of a changing mood after the negative sentiment that prevailed over the past few months, according to CoinShares.

Multi-asset investment funds saw inflows of $8.6 million last week.

Altcoin funds were mixed. Solana-focused funds lost $1.7 million, and Polkadot-focused funds lost about $900,000. Cardano funds pulled in about $900,000, while funds focused on Litecoin and XRP saw inflows too.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Angelique is a market contributor at CoinDesk.

CoinDesk - Unknown

Angelique is a market contributor at CoinDesk.

Trending

1
CoinDesk - Unknown
Bitcoin Drops to Nearly $19K as Fed Renews Inflation Warnings

Central bank leaders warned Wednesday that inflation is going to last longer than some people anticipated.

CoinDesk - Unknown
2
CoinDesk - Unknown
Harmony Horizon Exploit Linked to North Korea; $10M Bounty Offered in 'Global Manhunt'

Developers said the team was “gathering wallet data” and strategizing plans based on the impact that the incident caused on users.

CoinDesk - Unknown
3
CoinDesk - Unknown
Singapore Central Bank Reprimands Three Arrows Capital for Providing False Information

The fund also exceeded the threshold of assets it could manage in Singapore, according to the central bank.

CoinDesk - Unknown
4
CoinDesk - Unknown
First Mover Asia: How Traders Are Shorting Tether Stablecoins; Bitcoin Falls but Holds Above $20K

Hedge funds are increasingly betting against USDT in anticipation of it losing value amid concerns about the coin’s reserve backing and systemic risks; ether drops.

CoinDesk - Unknown