Institutions Turn Cautious on Bitcoin As Short BTC Products See Record Inflows: CoinShares
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Digital Asset Fund Flows Weekly report finds digital asset investment products saw a positive week of inflows. 79% of the inflows derive from short-Bitcoin investment products, or products seeking to borrow Bitcoin to sell on the market before repurchasing it at a lower price. Bitcoin saw little inflows over the week, totaling just US $0.6 million. Small inflows in long Bitcoin investment products perhaps support the bearish argument, according to CoinShares. Short-Bitcoin saw record inflows totaling US $51 million after the ProShares launch of the Short Bitcoin Strategy ETF (BITI) on June 21. Ethereum (ETH), Solana (SOL), Polkadot (DOT), Cardano (ADA) and multi-asset crypto Source