Institutional investors loaded on an archive $51.4 million price of investment products offering contact with shorting the cost of Bitcoin (BTC) a week ago.
Based on data in the latest edition of CoinShares’ weekly “Digital Asset Fund Flows” report, there is $64 million price of inflows for digital asset products between June 27 and This summer 1, with short BTC funds representing 80% of this figure.
U.S.-based investors taken into account the lion’s share of inflows at $46.two million, with short-BTC investment products in solid demand after ProShares launched the very first-ever U.S.-based short Bitcoin exchange-traded fund (ETF) on June 22. The ETF trades underneath the ticker BITI while offering shorting exposure via futures contracts.
“This highlights investors are contributing to lengthy positions at current prices, using the inflows into short-Bitcoin possibly because of first-time ease of access in america instead of restored negative sentiment.”
CoinShares also noted that institutional investors from South america, Canada, Germany, and Europe clicked up a combined $20 million price of crypto investment products. Norway partly offset that figure with $1.8 million price of outflows.
Short BTC products have finally seen year-to-date inflows totaling $77.two million, with this figure placing it behind only multi-asset products and Solana (SOL) products, that have published $213.5 million and $110.3 price of inflows to date in 2022.
Searching in the inflows for other digital asset products, individuals offering contact with Ether (ETH) generated $4.9 million, marking the 2nd consecutive week of inflows following a extended 11-week trend of shedding. However, year-to-date ETH money is still lower with $450.9 million price of outflows.
The rest of the inflows was spread across multi-asset funds at $4.4 million, while SOL, Polkadot (Us dot), Cardano (ADA), and BTC products also published minor inflows of $a million, $700,000, $600,000, and $600,000 correspondingly.
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The boost in short BTC fund inflows a week ago also follows in the prior week when there is $423 million price of outflows for digital asset products, the greatest amount ever on CoinShares’ records. Particularly, short BTC funds steered clear of the carnage that week, posting $15.3 million price of inflows, while BTC products saw significant outflows of $453 million.
