Crypto funds defy geopolitical tensions as weekly inflows hit almost $2 billion

Crypto investment products continue to attract billions of dollars despite a surge in geopolitical tensions.

Ethereum, the world’s second-largest crypto asset, saw its strongest weekly inflows since February following the latest surge in its price. ETH investment products attracted $583 million last week, extending  year-to-date inflows to more than $2.2 billion.

Bitcoin led the charge with $1.3 billion in inflows. Other cryptocurrencies including XRP and Sui also grabbed the attention of institutional investors.

In total, crypto investment products attracted $1.9 billion last week, according to a report published by digital asset manager CoinShares.

“Regionally, investor sentiment was largely positive. The US led with $1.9 billion in inflows, followed by Switzerland, Germany, and Canada, which saw inflows of $20.7 million, $39 million, and $12.1 million, respectively. In contrast, Hong Kong and Brazil experienced outflows of $56.8 million and $8.5 million, respectively,” CoinShares mentioned in its report.

The crypto market saw a recovery on Monday after a slight dip last week. Bitcoin dropped below $104,000 last week and Ethereum touched a low of $2,400. BTC is currently trading above $107,000 while ETH rose above $2,640 during the afternoon trading session on Monday 16 June.

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