Institutional Investors Short Selling Bitcoin (BTC) at Highest Rate on Record: CoinShares
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Major institutional investors are shorting crypto king Bitcoin (BTC) at record highs, according to a leading digital asset manager.
In the latest Digital Asset Fund Flows Weekly report, CoinShares notes that institutional shorting Bitcoin (BTC) broke a record last week.
“Short bitcoin investment products AuM [assets under management] rose to $172 million, a record high, making some gains as the first outflow in 7 weeks totaled $5.1 million.”
Overall, $8.3 million was brought into crypto investment products last week, indicating that institutions currently have a “voracious” appetite for the market, according to CoinShares.
In the US market, the outflow was almost 10 million dollars, while in the European market it was 15 million dollars.
While BTC had a small revenue of $0.1 million, Ethereum (ETH) investment products received $7 million in institutional investments last week.
“Investors dipped their toes into Ethereum, which received a total of $7 million last week, the first positive sentiment after a successful merger and four weeks of outflows. The recent launch of a short Ethereum investment product brought in modest investments totaling $1.1 million.”
Last week, Cosmos (ATOM) investment products generated $0.4 million, XRP products $0.5 million, and multi-asset investment products that invest in a basket of crypto $1.8 million.
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