By Gertrude Chavez-Dreyfuss

NEW YORK (Reuters) – Cryptocurrency investment products and funds posted inflows for a sixth consecutive week, as investors viewed recent regulatory challenges in the sector as buying opportunities, data from digital asset manager CoinShares showed on Monday.

According to CoinShares data, the last week saw inflows of $95 million. This was mainly due to investments of $50.2million in bitcoin. The crypto inflows have increased by $320million over the six week period. Inflows for 2021 were $6 billion.

The last two quarters of negative investor sentiment were the most severe. Inflows last week were only the fourth week inflows of 2017’s 17. At $4.3 billion, bitcoin inflows have remained strong this year.

China’s highest-ranking regulators intensified their crackdown against cryptocurrency with a blanket ban of all crypto transactions, mining and hitting bitcoin. This also pushed for crypto- and Blockchain-related stocks.

However, analysts stated that Monday’s news was not received well by investors.

Craig Erlam of OANDA London said that bitcoin is showing some resilience. At one point, it was worth $40,000 at most.

Bitcoin fell 0.2% to $43,108 at the last check.

In its most recent research note, Glassnode, a blockchain data provider, noted Monday that bitcoin was down 0.2% at $43,108.

According to Glassnode, current bitcoin transactions average 175,000-200,000 each day. This is comparable to 2018’s bear market levels.

CoinShares data also showed ether products had the second most inflows last week at $29 million, as investors looked to further improvements in the blockchain.

However, Ether fell 2.1% to $3,000.88 on Monday.

Grayscale and Coinshares managed assets, which were the largest managers of digital assets, fell last week by 2.1% at $3,000.88.