Ethereum

Reserve

Solana

Bitcoin

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">A new <a aria-label="funds flow report (opens in a new tab)" href="https://blog.coinshares.com/volume-130-digital-asset-fund-flows-weekly-report-72361a9e7d15" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">report</a> by CoinShares showed that short-Bitcoin investment funds recorded $23 million in outflows over the last week. Overall, digital asset investment products saw outflows totaling $54 million over the week, $32 million of which came from Bitcoin funds.</p> 
<h3 id="bitcoin-funds-saw-32m-in-outflows-last-week">Bitcoin Funds Saw $32M in Outflows Last Week</h3> 
<p>Short-bitcoin investment products saw the largest weekly record in outflows last week of $23 million, according to CoinShares. Bitcoin funds attracted negative sentiment, recording $32 million in outflows last week.</p> 
<p>On a regional basis, the bulk of outflows came from Germany and Canada, with $27 million and $20 million, respectively. Only Sweden attracted some positive sentiment, with just $1.3 million in inflows.</p> 
<p>According to CoinShares, volumes in the broader crypto industry are currently halved from the levels seen at the beginning of 2023, while volumes in investment funds are 16% higher than their year-to-date average.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="third-week-of-outflows-for-digital-asset-funds">Third Week of Outflows for Digital Asset Funds</h3> 
<p>In total, digital asset investment funds saw $54 million in outflows last week, marking the <a aria-label="third consecutive week (opens in a new tab)" href="https://blog.coinshares.com/volume-129-digital-asset-fund-flows-weekly-report-325091215c48" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">third consecutive week</a> of outflows for the asset class. Almost all outflows were registered in Bitcoin and short-bitcoin funds, and some minor outflows in Ethereum-related investment products.</p> 
<blockquote class="wp-block-quote"> 
 <p>“Investor activity in altcoins was unusually low, seeing minor outflows from Ethereum investment products of US$2.3m. While Solana was the only other altcoin to see any activity with inflows of US$3.4m, the second largest over the last 12 months.”</p> <cite>– CoinShares wrote in the blog. </cite>
</blockquote> 
<p>CoinShares noted that blockchain-related stocks also saw negative investor sentiment last week, recording total outflows of $7.3 million. The figure mark the largest weekly outflows for blockchain equities since the start of the year, likely due to profit taking, CoinShares wrote in the blog.</p> 
<p>Over the past seven days, Bitcoin’s price fell by around 1%. The world’s biggest cryptocurrency lost some of its gains from last month, when it <a href="https://tokenist.com/bitcoin-up-79-ytd-as-another-banking-crisis-looms/" rel="dofollow" class="deco-link">breached the $30,000</a> psychological threshold for the first time since June 2022.</p> 
<p>The slight drop comes partly due to the <a href="https://tokenist.com/fed-continues-relentless-rate-hikes-with-25-bps-despite-bank-trouble/" rel="dofollow" class="deco-link">latest interest rate hike</a> by the Federal Reserve (FED) last week, which brought the rates up to the 5-5.25% range. Many <a href="https://tokenist.com/analysts-expect-the-fed-to-pause-rate-hikes-soon-as-senators-weigh-in/" rel="dofollow" class="deco-link">analysts expect</a> it was the last rate increase this year, with US senators and representatives arguing that further tightening could “throw millions of Americans out of work.”</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><em><strong>Do you think Bitcoin and other digital asset investment products will attract more positive sentiment in the coming months? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/short-bitcoin-funds-saw-23m-in-net-outflows-last-week/">Short-Bitcoin Funds Saw $23M in Net Outflows Last Week</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Short-Bitcoin Funds Saw $23M in Net Outflows Last Week

Table of Contents

Tokenist

Other articles published on May 9, 2023

US crypto companies obliged to relocate overseas

Coinbase Eyeing UAE as Web3 Hub Amid U.S. Regulatory Crisis

Shiba Inu Coin Price Prediction 2023-2032: Is SHIB Skyrocketing Soon?

Short Selling Under Scrutiny Amid Rising Banking Crisis | Short News

Technology and innovation at its peak as the new TECNO CAMON 20 wins Global Muse Awards 2023

Mike Novogratz’ Galaxy Digital Turns Profitable in Q1 2023: Report

Join our free newsletter for daily crypto updates!