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Institutions Sell Bitcoin (BTC) as Markets Bounce: Coinshares

Institutions Sell Bitcoin (BTC) as Markets Bounce: Coinshares

According to CoinShares, a digital asset manager, large institutional investors aren’t convinced by recent crypto market rallies.

CoinShares finds evidence of bearishness among North American investors in the latest Digital Asset Fund Flows Weekly Report, as short bitcoin (BTC) investment products saw inflows last week. 

“Last week, digital asset investment products saw US$37 million inflows, though this was primarily into short investment products (68%).”

Short BTC products, which aim to profit from the leading cryptocurrency’s downward moves based on market cap, received $25.5 million in inflows last week, while traditional BTC products received $5.7 million.

According to CoinShares, sentiment toward Bitcoin and other digital asset investment vehicles varies by region.

Opinion is very polarised regionally.” Europe saw the most inflows, with Germany and Switzerland receiving US$14 million and US$10 million, respectively. Outflows were also observed in European short investment products, indicating that sentiment is positive. In contrast, Hong Kong saw outflows from long investment products (US$11 million), while short Bitcoin products accounted for 95% of inflows in the US.

In the last week, Ethereum (ETH) institutional investment products received $4.2 million in inflows, while Polkadot (DOT), Cardano (ADA), Avalance (AVAX), and XRP products all received minor inflows.

CoinShares discovered that trading activity was higher than usual last week.

“Trading activity for the week was high at US$1.6bn, exceeding the 90-day average of US$990m, with Bitcoin accounting for 80% of the trading.”


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