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.”

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