In its latest Digital Asset Fund Flows Weekly report, CoinShares found that digital asset investment products saw a positive week in capital flows, mainly coming from the distribution of funds supplement for Short BTC products.
“Digital asset investment products saw a total inflow of $64 million last week, although the headline figures obscure the fact that a significant majority was in short-term Bitcoin investment products ($51 million).”
As mentioned, 79% of the inflows come from Short BTC investment products or products that seek to borrow Bitcoin to sell in the market before buying it back at a lower price.
According to the company, the small influx of BTC long-term investment products probably supports the bearish argument.
“Regions other than the US such as Brazil, Canada, Germany and Switzerland saw smaller inflows into long investment products, totaling US$20 million.
This highlights that investors are adding long positions at current prices, rather than renewing negative sentiment due to an influx in short-bitcoins, possibly first reaching the US.
There was little inflow into bitcoin during the week, totaling only US$0.6 million. Short-BTC saw a record inflow of US$51 million total following the product launch in the US.”
CoinShares is referring to the launch of ProShares Short Bitcoin Strategy ETF (BITI) on June 21.
Ethereum (ETH), Solana (SOL), Polkadot (DOT), Cardano (ADA), and multi-asset crypto investment products all enjoyed inflows for the week, bringing in $4.9 million, $1 million, $0.7 million, $0.6 million and $4.4 million, respectively.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
Bitcoin's price rose 3% to $70,200, influenced by excitement surrounding the US presidential election.
NY, United States of America, 5th November 2024, Chainwire
This Coincu's article presents a curated list of the top DePIN crypto projects with airdrop…
Polymarket user identified only as "wallet mobile" has just made an astonishing bet of $10…
Binance CEO Richard Teng stated that Western companies will benefit most due to regulatory influence.
The Cyprus Securities and Exchange Commission announced that the Cypriot Investment Firm (CIF) FTX license…
This website uses cookies.