According to CoinShares, the influx of funds into investment products for institutionals last week amounted to $9.2 million. This is due to the opening of short positions on bitcoin.
At the moment, $27.96 billion of assets are stored in cryptocurrency funds. Over the week, the indicator increased by $9.2 million, but funds for BTC, ETH and BNB recorded a decrease. So, Bitcoin funds lost $11.1 million, Ethereum trusts reported a decrease in capitalization by $2.1 million, and Binance Coin funds lost $0.3 million.
On the other hand, funds that earn on the fall in the bitcoin rate received $17.9 million, which is more than 12% of the total capitalization of such instruments. Also, trusts for ADA, XRP and SOL coins, as well as multicurrency trusts, reported a positive balance based on the results of the week.
As for the distribution of investments by country, investments were increased by institutional investors from all over the world, with the exception of Sweden. Investors from this country withdrew $2.6 million from cryptocurrency funds.
Note that last week reversed the emerging trend – in the previous three weeks, institutional investors withdrew funds from cryptocurrency funds. For example, the week before last, investors withdrew $27 million.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.