Digital assets manager CoinShares says large institutional investors aren’t convinced by the recent rallies in crypto markets.
In the latest Digital Asset Fund Flows Weekly Report, CoinShares finds evidence of bearishness among North American investors as short Bitcoin (BTC) investment products saw inflows last week.
“Digital asset investment products saw US$37m inflows last week, although this was predominantly into short investment products (68%).”
Short BTC products, which aim to profit on downward moves of the leading cryptocurrency by market cap, saw $25.5 million in inflows last week as traditional BTC products took in $5.7 million.
CoinShares says the sentiment on Bitcoin and other digital asset investment vehicles was divided regionally.
“Regionally, opinion is very polarised. Inflows were seen in Europe, most notably Germany and Switzerland with US$14m and US$10m respectively. Outflows were seen in European short investment products too, suggesting sentiment is positive. In contrast, Hong Kong saw outflows from long investment products (US$11m), while the 95% of the inflows into the US were into short-Bitcoin products.”
Ethereum (ETH) institutional investment products saw $4.2 million in inflows over the last week, while Polkadot (DOT), Cardano (ADA), Avalance (AVAX) and XRP products all enjoyed minor inflows.
Overall, CoinShares finds that trading activity was higher than usual last week.
“Trading activity for the week was high at US$1.6bn, above the 90-day average of US$990m, with 80% of the trading focused on Bitcoin.”
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/4K_HEAVEN/Chuenmanuse
