Short-Bitcoin Inflows Cooling

Meantime, sentiment for ethereum is recovering.

JamesButterfill310x310
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Head of Research and Investment Strategy
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Reviewed by: James Butterfill
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Edited by: James Butterfill
  • Digital asset investment products saw inflows totalling US$15m last week, while total assets under management (AuM) recovered from their year and half lows to US$36.2bn.
  • Bitcoin saw minor outflows totalling US$1.7m while inflows into short-Bitcoin totalled US$6.3m last week.
  • Ethereum saw inflows for the third consecutive week totalling US$7.6m. The inflows suggest a modest turn-around in sentiment having endured 11 consecutive weeks of outflows.
  • The altcoin market has remained remarkably inactive this month so far with minor outflows totalling US$0.3m.

 

 

Digital asset investment products saw inflows totalling US$15m last week, while total assets under management (AuM) recovered from their year and half lows to US$36.2bn.

Regionally, US exchanges saw inflows totalling US$8.2m, with 76% of the inflows comprising short positions. Canada saw inflows totalling US$7.1m while Switzerland saw inflows of US$1.9m.

Bitcoin saw minor outflows totalling US$1.7m while inflows into short-Bitcoin totalled US$6.3m last week. However, short position inflows are beginning to cool off, while recent price appreciation in Bitcoin prices has pushed down AuM down from a peak of US$140m to US$127m last week.

Ethereum saw inflows for the third consecutive week totalling US$7.6m. The inflows suggest a modest turn-around in sentiment having endured 11 consecutive weeks of outflows that brought 2022 outflows to a peak of US$460m. This improvement in sentiment may be due to the increasing probability of the Merge, where Ethereum moves from proof-of-work to proof-of-stake, happening later this year.

Multi-asset investment products saw minor inflows totalling US$2.2m, while the broader altcoin market has remained remarkably inactive this month so far with minor outflows totalling US$0.3m.

 

 

 

 

 

 

Contact James Butterfill at [email protected]

James Butterfill has over 19 years of experience in fund management, investment banking, economics and asset allocation, gained most recently as an investment strategist at CoinShares. Previously, he was head of research at ETF Securities, with prior experience as a multi-asset fund manager and investment strategist at Coutts & Co., HSBC & ING Barings. James is a regular media commentator, and frequently appears on Bloomberg TV, CNBC, BBC and other broadcast outlets. Investment Week awarded him best ETF Eesearch and best FX Research in 2016 and 2017, respectively. James is currently an investment strategist at CoinShares, writing research white papers on investment themes, identifying investment opportunities and helping investors understand the digital asset world.