Bitcoin’s total year-to-date inflows passed the half-billion mark at US$506 million after adding US$126 million last week, digital asset manager CoinShares reported.
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- Ethereum, on the other hand, saw outflows totaling US$32 million, enduring negative investor sentiment with nine straight weeks of outflow, the report noted.
- Altcoins hardly saw any inflows last week, while investors flocked to the relative safety of Bitcoin as investor sentiment on crypto markets was damaged by the recent collapse of Terra.
- Digital assets-based investment products saw inflows of US$100 million last week, bringing total assets under management (AUM) of products tracked by CoinShares to US$39.8 billion.
- Last week’s fund flows in digital asset investment products were primarily from the Americas totaling US$88 million.
- European investors have been more bearish in 2022 with inflows of just US$11 million with year-to-date inflows of US$570 million and outflows of US$41 million.
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