Institutions Fade Crypto Rally, Go Short on Bitcoin (BTC) As Markets Bounce: Coinshares


Digital asset manager CoinShares says large institutional investors are not convinced by recent rallies in crypto markets.

In the latest weekly digital asset fundflow report, CoinShares finds evidence of bearishness among North American investors as Bitcoin short (BTC) investment products posted entries last week.

“Digital asset investment products saw inflows of $37 million last week, although this was predominantly in short-term investment products (68%).”

Source: CoinShares

BTC short products, which aim to profit from the downward movements of the leading cryptocurrency by market capitalization, saw inflows of $25.5 million last week, as BTC traditional products received $5.7 millions.

CoinShares says sentiment on Bitcoin and other digital asset investment vehicles was regionally split.

“Regionally, opinion is very polarized. Inflows were observed in Europe, especially in Germany and Switzerland, with 14 million dollars and 10 million dollars, respectively. Exits were also seen in European short investment products, suggesting that sentiment is positive. By contrast, Hong Kong saw outflows of long investment products ($11 million), while 95% of inflows in the US went to short Bitcoin products.”

ethereal (ETH) institutional investment products saw inflows of $4.2 million over the past week, while Polkadot (POINT), Cardano (ADA), avalanche (AVAX) Y XRP all products enjoyed minor entries.

Overall, CoinShares finds that trading activity was higher than usual last week.

“Trade activity for the week was high at $1.6 billion, above the 90-day average of $990 million, with 80% of trading focused on Bitcoin.”

Don’t miss the beat Subscribe to receive crypto alerts via email directly to your inbox

Check price action

follow us Twitter, Facebook Y Telegram

Sail Hodl’s Daily Mix

Check the latest news headlines

&nbsp

Get Alerts

Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.

Featured Image: Shutterstock/4K_HEAVEN/Chuenmanuse



Leave a Comment