Last week, institutional investors stockpiled $ 51.4 million worth of investment products, which offer shortened exposure to the price of bitcoin (BTC).
According to data from the latest issue of the weekly report “ Digital Asset Fund Flows from CoinShares, digital asset products saw $ 64 million in inflows between June 27 and July 1, with BTC short – term funds of 80 % of this figure.
U.S. investors took the lion’s share with $ 46.2 million, as short-term bitcoin investment products were in high demand after ProShares launched its first-ever trading fund on June 22nd. The ETF trades under the BITI ticker and provides exposure to short selling through futures contracts.
“This shows that investors are adding long positions to current prices, as inflows into short bitcoin may be due to early US accessibility rather than a new negative sentiment. »
CoinShares also noted that Brazilian, Canadian, German and Swiss institutional investors seized a combined $ 20 million worth of cryptocurrency investment products. Sweden partially offset this figure with $ 1.8 million outflows.
To date, BTC’s short products have seen total inflows of $ 77.2 million, lagging behind multi – asset and Solana (SOL) products, which have seen inflows of 213.5 million and $ 110.3 million to date in 2022.
Looking at inflows for other digital asset products, the offerings for Ether (ETH) exposure generated $ 4.9 million, marking the second straight week of inflows after a long 11 – week downward trend. However, to date, ETH funds continue to suffer from $ 450.9 million outflows.
The rest of the inflows were split between multi-asset funds to the tune of $ 4.4 million, while SOL, Polkadot (DOT), Cardano (ADA) and BTC products also saw minor inflows of $ 1 million, $ 700,000, $ 600,000 and $ 600,000 respectively.
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The rise in inflows into BTC’s short funds also continued last week, with outflows worth $ 423 million for digital asset products, the highest ever recorded by CoinShares. In particular, BTC’s short funds escaped death that week, posting a $ 15.3 million inflow, while BTC products saw a significant outflow of $ 453 million.