Bitcoin Maintains Investor Interest with $20 Million Inflows, YTD Total Hits $1.7 Billion: CoinShares
Investment products related to digital assets experienced inflows amounting to $43 million last seven-day period, marking the 11th consecutive week of such positive movements.
However, this figure represents a noticeable decrease compared to previous weeks. According to CoinShare’s latest report, the recent rise in prices has prompted a significant influx into short positions, as some investors perceive potential downward price movement.
- The digital asset manager found that blockchain equities witnessed their highest weekly inflows on record, reaching $126 million.
- Bitcoin remains the main focus of investors, attracting inflows of $20 million in the past week. This catapulted the year-to-date total to $1.7 billion.
- Conversely, short positions in Bitcoin saw inflows of $8.6 million, likely reflecting the belief among some investors that the current price surge is unsustainable.
- In a notable shift this year, Ethereum experienced its sixth consecutive week of inflows, totaling $10 million. Just seven weeks ago, Ethereum had recorded year-to-date outflows of $125 million, but it has now rebounded, with total inflows reaching $19 million.
- Solana and Avalanche continued to be popular choices in the altcoin space, attracting inflows of $3 million and $2 million, respectively.
- From a regional perspective, Europe maintained its dominance in inflows, with $43 million, while the United States recorded only $14 million in inflows, half of which went into short positions.
- Hong Kong experienced its second consecutive week of outflows, totaling $8 million, and Brazil also saw minor outflows of $4.6 million.
The post Bitcoin Maintains Investor Interest with $20 Million Inflows, YTD Total Hits $1.7 Billion: CoinShares appeared first on CryptoPotato.
