According to data from digital asset manager CoinShares, cryptocurrency investment products and funds saw inflows for the sixth week in a row, as investors saw recent regulatory issues in the sector as buying opportunities.
According to CoinShares data as of Sept. 24, inflows to the sector totaled $95 million last week, topped by $50.2 million in bitcoin investments. Crypto inflows totaled $320 million in the last six weeks. Inflows were $6 billion in 2021.
In the last two quarters, investor sentiment has been positive. Last week's inflows were only the fourth of the last 17 weeks of inflows. Inflows into bitcoin have remained strong so far this year, totaling $4.3 billion.
China's most powerful regulators stepped up their crackdown on cryptocurrencies on Friday, imposing a blanket ban on all crypto transactions and mining, putting pressure on bitcoin and other major coins as well as crypto- and blockchain-related companies.
Investors, on the other hand, appeared to dismiss the news on Monday, according to analysts.
"Bitcoin, which was nearing $40,000 at one point, is showing some remarkable resilience once again," said Craig Erlam, senior market analyst at OANDA in London.
