According to the statements in CoinShares’ report cryptocurrency investment products saw a total of $44 million in inflows last week, representing a very complex sentiment among investors.
Cryptocurrency Short Investment Products Are On The Rise
Short (bearish) investment product entries represented 75% of the total inflows, suggesting that overall sentiment is extremely negative for the asset class, likely a direct result of the continued impact from the FTX crash.
Assets under the management of the funds also fell to $ 22 billion, the lowest point in the last 2 years.
Regionally, there were inflows of short investment products in both the US and Europe, but there were exits in some shorts, suggesting that there is a divergence of opinion among investors as to whether the market has hit its lows.
to bitcoin Total inflows were US$14 million, but net flow was negative US$4.3 million when offset by inflows into short investment products. Total Assets Under Management in Short-Bitcoin is currently at $183 million, close to a $186 million high.
While Ethereum saw small outflows totaling $0.8 million, it also recorded the largest inflows to its Short-Ethereum investment products, totaling a record $14 million.
This negative mood is likely the result of the Shanghai update that will allow the withdrawal of staking assets and the continued uncertainty over hacked FTX ETH assets totaling US$280 million.
Altcoins, especially Solana, XRP, BNB and in polygon A series of debuts totaled $6 million USD.
*Not investment advice.
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