Investment products that buy Bitcoin empty see record inflows
Investment products that buy Bitcoin empty see record inflows
- Ethereum products see slight drains before the merger
- The managed assets in crypto products went back to around $ 28 billion, the lowest level since the beginning of July
Despite the continued low trade volumes and overall declining managed assets in crypto system, the money that flowed into the aspiring short-bitcoin offer space flowed, an all-time high.
According to a report by Coinshares on Tuesday last week,crypto system products had around $ 9 million of trusses and thus stopped a three-week drainage series. The negative mood was highest in the USA, where there were relatively flat tributaries that were disguised by a record amount of $ 18 million in products that bet against Bitcoin.
BITI had increased by 20 % on Tuesday at 11:00 a.m. ET over the previous month, since the price of Bitcoin was just over $ 19,800. According to ETF.com, the fund has an administrative assets of around $ 90 million.
crypto system products in Canada, Brazil, Switzerland and Germany recorded somewhat higher inflows than in the USA.
"This is followed by the latest FOMC session in Jackson Hole, in which a much more restrictive point of view was expressed, which was unexpected by some investors", says Coinshares Head of Research James Butterfill said in the report.
The chairman of the US Federal Reserve, Jerome Powell, said during the event on August 26 that it was still a long way until sustainable price stability was achieved. Some analysts predict a further rate increase of 75 basis points for this month.
Despite the additions to short-bitcoin products, offers that focused on Bitcoin and Ether, around $ 11 million or $ 2 million in drains.
Butterfill said last week that investors apparently decided to wait for the upcoming merger of Ethereum-the transition of the blockchain from the Proof-of-Work to Proof-of-Stake before they increase positions.
The trade volume of the last week in crypto system products was around $ 900 million, similar to last week-the lowest since October 2020.
The recent price declines have increased the managed assets in crypto products to around $ 28 billion, the lowest level since the beginning of July. Such offers managed a fortune of around $ 64 billion at the beginning of the year.
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The contribution Investment Products Shorting Bitcoin See Record Inflows is not a financial advice.
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