Crypto investment products recorded another week of inflows totaling $$109 million including Avalanche.
Despite increased political tensions surrounding the Russia-Ukraine crisis, crypto investment products recorded their fifth consecutive week of inflows. This is by institutional crypto fund manager CoinShares.
The report, which analyzes weekly flows into digital asset funds, revealed Avalanche as the second biggest performer in the week ending February 21, with inflows totaling $25 million.
Ethereum saw outflows totaling $15 million. According to the report, institutional investors poured $109 million into crypto investment products last week, despite recent price weakness. This weakness is attributing to several macro headwinds at play–including the increasing tensions in Eastern Europe. Also, the White House preparing to issue an executive order calling US government agencies to formulate a national strategy for regulating the crypto market.
“While inflows were seen in both Europe and the Americas, it was predominantly the latter with inflows totaling $101 million,” noted CoinShares.
Bitcoin saw its highest inflows since December 2021–totaling $89 million last week. However, the report noted that these volumes “remain tepid,” with the last five weeks of inflows totaling $221 million–accounting for 0.7% of total assets under management (AuM).
Meanwhile, Ethereum saw outflows totaling $15 million, followed by minor outflows recorded by Binance ($0.5 million) and Ripple ($0.1 million).
Last week’s second-biggest performer- Avalanche
Last week, Avalanche emerged as the second-best performer with inflows totaling $25 million.
Avalanche is the fastest intelligent contracts platform in the blockchain industry. It is surfaced as one of Ethereum’s main competitors amongst the rapidly growing Layer 1 networks.
Launched in 2020 by Ava Labs, Avalanche quickly gained traction in the DeFi space. It is currently home to 170 protocols–ranking as the fourth chain based on the total value locked (TVL) metric.
With $10.5 billion in TVL, Avalanche is currently behind Ethereum ($117.3 billion), Terra ($16 billion), and Binance Smart Chain ($11.9 billion), according to data provided by DeFi Llama.
Multi-asset and Solana investment products followed recording inflows totaling $9.4million and $1.2 million, respectively.
In the meantime, blockchain equities remained popular among institutional investors. The inflows total is $26 million–across a broad array of investment products.
