Fund clients Grayscale reduced their positions by $40 million, Invesco by $20 million, and Valkyrie by $16 million. Other products saw little or no change in capital flows. In particular, Bitwise’s Bitcoin spot ETF raised $8 million, while BlackRock’s fund received only $6 million from investors.
SoSoValue notes that investor sentiment is affected by the unfavorable employment report in the United States – after the release of macrostatistics, the Bitcoin rate fell below $68,000.
Over the past trading week, issuers of spot Bitcoin exchange-traded funds in the United States purchased 25,729 BTC, and during the same period, miners mined only 3,150 BTC. Analysts at SoSoValue suggest that inflows into spot Bitcoin ETFs will recover in the short term, but in smaller volumes than a week ago.
Earlier, the market recorded a new record high in short positions of hedge funds in Bitcoin, which indicates a significant change in sentiment among investors expecting a decline in the rate of the first cryptocurrency.
Source: Bits
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