Short Bitcoin Investment Products Saw Record Inflow of $18m Last Week: CoinShares

Data from digital asset management firm Coinshares showed that outflows from cryptocurrency investment products reached $9.2 million last week, with the majority of inflows coming from short investment products.

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Bitcoin (BTC) accounted for the lion’s share of these outflows with 11 million outflows, driving a 4-week streak of outflows throughout August.

However, declining Bitcoin short positions reached a record short inflow of $18 million, bringing total assets under management to an all-time high of $158 million.

Altcoins had small inflows, notably Solana and Avalanche, which each had a combined inflow of $500,000.

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Source: CoinShares

Coinshares statistics show that capital inflows are distributed across regions. Canada’s inflows totalled $4.7 million, while the U.S.’s total inflows of $0.8 million were only a fraction.

Corresponding capital outflows from other regions are not particularly large. Brazil, Switzerland, and Germany saw total inflows of $3.2 million, $1.7 million, and $1.6 million, respectively.

According to a report by CoinShares investment strategist James Butterfill:

“In a similar fashion to last week, this week saw multi-year low weekly trading volumes totalling US$915m. Recent price declines have pushed down total assets under management (AuM) to $27.9 billion, their lowest point since early July this year, having begun the year at $64 billion. “

Bitcoin has gained 1.05% over the past 24 hours and rebounded by $$20,119.71, according to CoinMarketCap. Over the same period, Ethereum rose 5.45% to $1,659.

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Disclaimer:- Investing in bitcoin and different preliminary coin choices is extremely dangerous and speculative. Because every particular person’s scenario is exclusive, a certified skilled ought to at all times be consulted earlier than making any monetary choices. The Crypto Kingdom makes no representations or warranties as to the accuracy or timeliness of the knowledge contained herein.

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