Investors added $619 million to crypto funds amid volatility around Iran

From February 28 to March 6, inflows into cryptocurrency-based exchange-traded products (ETPs) decreased to $619 million, according to data from CoinShares.

Year-to-date inflows have returned to positive territory, reaching $45 million.

Source: CoinShares

Despite the escalation of the geopolitical situation in the Middle East, $1.44 billion flowed into funds during the first three days of the week.

During the following two days, after the release of a disappointing labor market report, clients withdrew $829 million from the instruments.

“Flow data indicates generally positive sentiment toward digital assets during a period of geopolitical tension,” the analysts noted.

The total assets under management increased to $135.4 billion.

Related: Morgan Stanley selected custodians for its Bitcoin ETF

Where is the interest?

Investors focused mainly on Bitcoin (BTC)-based funds, which recorded total inflows of $521 million.

At the same time, opinions remained partly polarized, which was reflected in $11.4 million inflows into short products.

Most altcoins showed positive dynamics.

Products based on:

• Ethereum (ETH) attracted $88.5 million
• Solana (SOL) — $14.6 million
• Uniswap (UNI) and Chainlink (LINK) — $1.4 million each

From XRP-based ETPs ($XRP), clients withdrew $30.3 million.

Source: CoinShares

See also: "Florida recognizes stablecoins as equivalent to fiat money"

#Investment #crypto funds

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