For instance, ProShares Short Bitcoin Strategy ETF offers short BTC exposure that profits from the cryptocurrency's price declines. Short funds provide investors a bearish exposure to an asset's price. Long-bitcoin funds bled $12 million, the third straight weekly outflow.īroadly speaking, digital-asset investment products saw minor outflows of $2 million. 24, according to crypto asset manager CoinShares. Short-bitcoin funds had $10 million in inflows during the week ended Feb. economic data and the prospect of renewed outsized rate increases by the Federal Reserve weakened the appetite for risky assets. Investors poured money into short bitcoin funds last week as upbeat U.S.
XRP products enjoyed $0.4 million in inflows.Join the most important conversation in crypto and web3! Secure your seat today With the exception of Ethereum ( ETH) suffering $12.7 million in outflows, Solana ( SOL), Litecoin ( LTC) and Polygon ( MATIC) all enjoyed $0.2 million in inflows, respectively. It is evident this sentiment is contrarian relative to the rest of the crypto market, but it may be driven, in part, by the need for liquidity during this banking crisis, a similar situation was seen when the COVID panic first hit in March 2020.”Īltcoins were similarly a mixed bag. “Conversely, despite inflows into short-bitcoin totaling a record US$35m last week, its AuM fell by 13% over the same period. “The outflows were in stark contrast to the broader market and suggest it was, in part, due to the need for liquidity rather than negative sentiment.”īitcoin ( BTC) products took the heaviest hit of outflows at $112.8 million, and short-BTC products saw inflows. “Digital asset investment products saw outflows for the sixth consecutive week totaling US$95m, with the five-week total being US$406m, representing 1.2% of total assets under management (AuM).” Source: CoinSharesĬoinShares suggests the contrarian positions taken by institutions may be due to a liquidity necessity rather than a bearish market view.
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