Total Inflows to ‘Short Bitcoin’ Funds Increase

According to the weekly fund flow report of cryptocurrency investment management company CoinShares; There is mixed sentiment among cryptocurrency fund investors. According to CoinShares’ weekly report on cryptocurrency funds, inflows to ‘Short’ investment products accounted for 75% of total inflows last week. Assets under the management of the funds, on the other hand, reached the lowest point in the last 2 years with $ 22 billion. It has been reported that the percentage of listings in shorts showed that overall sentiment was extremely negative for the asset class, likely due to the FTX crash.

Regionally, there were inflows to short investment products in both the USA and Europe, but there were exits in some short products. This, according to the company, reveals the divergence of opinion among investors on whether the market has reached its lowest levels.

Last week, there was a total of $14 million inflows into Bitcoin funds. But when offset by inflows into Short investment products, net flows were minus $4.3 million. Total assets in Short Bitcoin funds currently stand at $183 million. That means it’s very close to the $186 million high.

On the other hand, small outflows totaling $0.8 million were recorded in Ethereum funds. In contrast, there was a total of $14 million inflows into short Ethereum investment products, the largest ever. It was stated that this negative mood was due to the uncertainty about the Shanghai update and FTX ETH assets, which will allow the withdrawal of staking assets. Finally, a string of exits for a total of $6 million has been seen in altcoins including Solana, XRP, Binance, and Polygon.