Digital assets manager CoinShares is seeing signs of bullish sentiment on the horizon among large institutional investors.
“Digital asset investment products saw outflows totaling $5 million last week, although the majority was from short investment products.”
Short BTC products suffered $15 million in outflows last week as traditional BTC products lost $12 million. Short BTC investments aim to borrow Bitcoin to sell on the market before repurchasing it at a lower price and returning it at a profit.
CoinShares says the Fed’s monetary policies are the likely cause of low volumes seen across the board.
“Volumes remain historically low as investors wait for signs that the US Federal Reserve will back down from its hawkish monetary policy.”
Ethereum (ETH) institutional investment products saw $2.2 million in outflows over the last week, and CoinShares suggests regulatory concerns accompanying the success of the merge update could be the cause.
“Recent feedback from clients suggest concern for its regulatory status as a security now it offers a staking yield.”
While multi-asset investment products, or those investing in more than one crypto, took in $1.1 million in inflows, Solana (SOL) and XRP products both suffered outflows. Litecoin (LTC) was the only altcoin to see inflows last week at $100,000.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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