The negative sentiment in digital asset investment products reached the fourth week recording an outflow of million. Confirming the same, the latest edition of the CoinShares report stated, “The poor sentiment likely represents continued investor concerns over regulatory uncertainty for the asset class.” Institutional investors are feeling the pressure as the US regulatory agency, the Securities and Exchange Commission (SEC), continued to target the crypto entities in the country. The outflows, however, have been minor this week compared to the figures in the past few weeks. A majority of these outflows were from Bitcoin totaling million, according to the fund manager’s report. On the other hand, short-bitcoin saw inflows for a third week totaling .8 million
Topics:
Chayanika Deka considers the following as important: AA News, social
This could be interesting, too:
Martin Young writes Ethena USDe Tops .3B Market Cap But Risks Identified
Wayne Jones writes Tom Holland’s Twitter Account Hacked to Promote Fake Crypto, Spider-Man Scam
Andrew Throuvalas writes Ethereum Is More Correlated To Stocks Than Bitcoin: IntoTheBlock
Andrew Throuvalas writes Bitcoin Drops Below ,000 Triggering 5 Million In Liquidations
The negative sentiment in digital asset investment products reached the fourth week recording an outflow of $17 million. Confirming the same, the latest edition of the CoinShares report stated,
“The poor sentiment likely represents continued investor concerns over regulatory uncertainty for the asset class.”
Institutional investors are feeling the pressure as the US regulatory agency, the Securities and Exchange Commission (SEC), continued to target the crypto entities in the country. The outflows, however, have been minor this week compared to the figures in the past few weeks.
- A majority of these outflows were from Bitcoin totaling $20 million, according to the fund manager’s report.
- On the other hand, short-bitcoin saw inflows for a third week totaling $1.8 million during the same period. The recent inflows failed to translate substantially for short-bitcoin assets under management (AUM) as it rose only by 4.2% YTD.
- Contrastingly, long-bitcoin AUM was up by 36% YTD. This essentially indicated that short positions have not benefited some investors as expected.
- Meanwhile, volumes across investment products were also recorded to be low at $844 million for the week.
- A similar scenario was witnessed for the entire Bitcoin market volumes, averaging $57 billion. Notably, this is 15% lower than usual.
- Altcoins noted minor inflows. Ethereum’s, for one, stood at $0.7 million, while Solana recorded $0.34 million inflows.
- Binance and Cosmos’s outflows accounted for $0.38 million and $21 million, respectively.