Institutional investors selling Bitcoin short accounted for 80% of weekly inflows

Digital asset product inflows were led by the $51.4 million posted by short BTC funds last week, ETH products generating the second highest figure at just $4.9 million.

Institutional investors loaded a record $51.4 million in investment products last week offering exposure to shorting the price of Bitcoin (BTC).

According to data from the latest edition of CoinShares' weekly "Digital Asset Fund Flows" report, there were $64 million in inflows for digital asset products between June 27 and July 1, short BTC funds accounting for 80% of this figure. .

US-based investors accounted for the lion's share of inflows at $46.2m, with short BTC investment products in high demand after ProShares launched the first-ever exchange-traded fund (ETF) short Bitcoin based in the United States on June 22. The ETF trades under the symbol BITI and provides short exposure via futures.

“This highlights that investors are adding long positions to current prices, with inflows into short bitcoin possibly driven by early US accessibility rather than renewed negative sentiment.”

CoinShares also noted that institutional investors from Brazil, Canada, Germany, and Switzerland purchased $20 million worth of crypto investment products. Sweden partially offset this figure with $1.8 million in releases.

Short BTC products have now seen inflows of $77.2 million year-to-date, putting it behind only Multi-Asset and Solana (SOL) products, which have seen inflows. inflows of $213.5 million and $110.3 so far in 2022.

Looking at the...