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Crypto Funds See Inflows, but It was Mostly into Inverse Products

Crypto Funds See Inflows, but It was Mostly into Inverse Products

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Inflows into digital asset investment products have increased over the past week to reach $12 million, according to a report by CoinShares. However, $15 million went into inflows for short (inverse price) investment products. On the other hand, the net outflows for long investment products have reached $2.6 million.

The report on inflows comes amid a recovery in cryptocurrency prices. The prices of different cryptocurrencies have gained, and the global cryptocurrency market cap has reclaimed the $1 trillion market cap. However, despite the gains, most cryptocurrencies have yet to reclaim most of the losses this year.

Crypto funds record inflows

A report by CoinShares assessed the current situation in the cryptocurrency market as a bullish streak appears. The report noted that last week, crypto assets reported inflows of $12 million; out of this amount, inflows into short (inverse price) investment products were $15 million.

On the other hand, the net outflows for long-term investment products came in at $2.6 million. The statistics show that new investors are expecting that the prices will drop further below. Moreover, the existing investors are not selling their holdings, as they believe the bottom is near.

Long Bitcoin outflows also came in at $2.6 million. However, it seems like investors are investing in crypto-based products. The total assets under management have increased by 11.4% since the end of June to reach $17.8 billion.

Moreover, investors are expanding their short positions, with the inflows reaching $15 million last week. The inflows now sit at a four-week high to reach $88 million. This accounts for 61% of the annual assets under management.

On the other hand, multi-asset investment products during the bear market have also reported inflows of $2 million. This has brought the year-to-date inflows to $219 million, significantly higher than any other asset class.

Inflows into altcoins

Ethereum also reported slight outflows of $2.5 million, finalizing three consecutive weeks of inflows. The outflows come amid Ether’s price gains towards $1500. Ether has reported a strong uptrend over the past week as more people buy Ethereum anticipating the Merge slated to happen in September this year.

Altcoins have also remained relatively inactive. Most inflows have been in Solana, where the number has reached $500,000. The volumes of investment products have also been low, reaching $1 billion over the past week compared to the weekly average of $2.4 billion.


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The post Crypto Funds See Inflows, but It was Mostly into Inverse Products appeared first on Business 2 Community.

Source: Business 2 Community