Analysts record record inflows into bearish Bitcoin funds
- July 4, 2022
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The flow of funds from cryptocurrency investment products for June 25-July 1 was $64 million. According to CoinShares, it was driven by receipts ($51 million) in funds that
The flow of funds from cryptocurrency investment products for June 25-July 1 was $64 million. According to CoinShares, it was driven by receipts ($51 million) in funds that allow you to open shorts in bitcoin.
Investors continue to build bearish strategies with the launch of the ProShares Short Bitcoin Strategy ETF. The management company that developed the tool raised $43.3 million in one week.
Despite the continued popularity of “short” instruments, traditional bitcoin funds have been able to rise. AUM $6 million for the second week in a row, an inflow of products based on Ethereum ($4.9 million) was recorded.
Investors continue to be interested in a variety of asset-backed instruments. Investments in them are up $4.4 million during the week and $213.5 million since the start of the year Overall, altcoin-based funds have shown a neutral positive trend.
Recall that the second quarter of 2022 was the worst quarter for Bitcoin in the last 11 years.
Earlier, Deutsche Bank experts had predicted that the first cryptocurrency would recover to $28,000 by the end of 2022.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
