Mathisen Marketing

Your Marketing Blog

Bitcoin Short Investment Funds Hit All-Time High of $172M: CoinShares

Bitcoin Short Investment Funds Hit All-Time High of $172M: CoinShares

As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Institutional investor Bitcoin According to a new report from CoinShares, sentiment turned pessimistic on Friday as short Bitcoin flow hit an all-time high.

Short Bitcoin funds offer investors exposure to derivatives such as futures and options that bet against the price of Bitcoin. While investors can enter these contracts directly, the CoinShares report tracks the flow of funds for the exchange-listed products.

By the end of last week, short Bitcoin investment products reached an all-time high of $172 million in assets under management, according to the report. CoinShares has been tracking Bitcoin short funds since the first 21Shares Short Bitcoin was launched on six Swiss exchanges in January 2020.

Bitcoin funds now have $16 billion in assets under management. That’s the lowest since the end of June, wrote James Butterfill, director of research at CoinShares, writing that last week’s trends show continued “lukewarm investor appetite for digital assets.”

However, there has continued to be bullish Bitcoin behavior between institutions. MicroStrategy bought 301 Bitcoins worth about $6 million when it went public last week. However, MicroStrategy’s shareholders were less enthusiastic about the news than CEO Michael Saylor.

The MSTR share price fell 6% on the day of the announcement. On Monday, MSTR traded at $198.98, close to over $200 and making up for the point it lost on last week’s Bitcoin news.

There was little good news for Ethereum-based funds, which netted $7 million. This is the first positive sentiment since the Ethereum merger. In the weeks leading up to and on September 15th, $62 million and $15 million flowed out of Ethereum funds, respectively.

Both Ethereum and Bitcoin have struggled over the past week, with Bitcoin still below the $20,000 mark on Monday and trading at $19,082.92, according to CoinGecko. Ethereum was trading at $1,318.57 on Monday afternoon, still well below the $1,600 price it last hit before the consolidation.

One of the biggest factors affecting the price of Ethereum has been miners sell ETH. Data from OKLink, which analyzes data from ten mining pools, showed that miners sold $20 million worth of ETH in the week before the merger.

Stay up to date with crypto news, get daily updates in your inbox.



Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts

  • BSP Asks Local VASPs, Coins.PH, Maya, PDAX of FTX Exposure

    BSP Asks Local VASPs, Coins.PH, Maya, PDAX of FTX Exposure

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Subscribe to our newsletter! Surgery by Nathaniel Cajuday In an email response to BitPinas, the Bangko Sentral ng Pilipinas (BSP) has confirmed that it has asked locally licensed cryptocurrency exchanges about their exposure to FTX following the latter’s collapse last […]

    Read More

  • Rep. Cawthorn fined for ethics breach over Let’s Go Brandon token promo

    Rep. Cawthorn fined for ethics breach over Let’s Go Brandon token promo

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Outgoing US Representative Madison Cawthorn has been fined more than $15,000 by the House Ethics Committee for promoting a cryptocurrency in which she had an undisclosed investment. The report, released Dec. 6 by the committee after a seven-month investigation, found […]

    Read More