$BTC

Bitcoin and Ethereum become an investment magnet despite the war.

Investment products based on bitcoin (BTC) and cryptocurrencies recorded inflows of 1.9 billion dollars amid the geopolitical tensions caused by the military conflict between Israel and Iran.

These financial instruments marked their ninth consecutive week in the green and a record inflow of 13.2 billion dollars during that period.

This reflects a growing interest from institutional investors in products regulated by the corresponding state agencies.

Although cryptocurrency-based products, as a whole, had been in the green for several weeks, those based on bitcoin specifically had two weeks in the red. Now, bitcoin-based funds have recovered strongly and led capital flows, recording inflows of 1.3 billion dollars.

Meanwhile, financial instruments based on ether (ETH), the native cryptocurrency of Ethereum, had inflows exceeding 583 million dollars.

Additionally, after three weeks of outflows, XRP products recorded inflows of 11.8 million dollars.

According to analysts at CoinShares, a data analysis firm, "despite the geopolitical concerns that affected risk assets last week, digital assets remained resilient, attracting inflows along with gold."

The strong performance of these financial instruments occurs amid the escalation of the conflict between Israel and Iran. As reported by CriptoNoticias, after the first Israeli attacks, the price of BTC fell from 108,000 dollars to 103,500 dollars.

However, these price drops in digital assets are often seen by long-term investors as an opportunity to buy at a lower price. For this reason, investment products based on BTC and cryptocurrencies closed a week with cash inflows.