CoinShares, a fund manager for institutional crypto funds, says that crypto investment products have had inflows for the fifth consecutive week in a row, even though there has been a rise in political tensions between Russia and Ukraine.
The report, which looks at how much money people put into digital asset funds each week, found that Avalanche was the second-best performer in the week ending February 21, with inflows totaling $25 million.
As per the report, institutional investors poured $109 million into crypto investment products last week, despite recent price weakness attributed to several macro headwinds at play–including the increasing tensions in Eastern Europe, as well as the White House preparing to issue an executive order calling on US government agencies to formulate a national strategy for regulating the crypto market.
Bitcoin, last week, witnessed its highest inflows since December 2021– amounting to a total of $89 million. According to the report, inflows of $221 million over the last five weeks only account for 0.7% of the company’s assets under management (AuM).
In addition, Ethereum lost $15 million, followed by Binance ($0.5 million) and Ripple ($0.1 million). Last week, Avalanche emerged as the second-best performer, with inflows totaling $25 million. Marketed as the fastest smart contracts platform in the blockchain industry, Avalanche has surfaced as one of Ethereum’s main competitors amongst the rapidly growing Layer 1 networks.
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