Crypto-asset (virtual currency) funds saw net inflows of $37 million last week, more than half of which went into “short” funds, i.e. those aimed at profiting from falling prices.
Bitcoin (BTC) short funds saw net inflows of $25.5 million, the highest since last July when $51 million inflows, according to data released by CoinShares on Jan. 23. .
The increase was due to Bitcoin rising to a four-month high above $22,000. Bitcoin is up more than 40% so far in 2023. Last July’s big inflow was also driven by June’s rally from a low of $18,200 to over $24,000.
Last week’s net inflow brought Bitcoin short funds AUM to $138 million. Meanwhile, Bitcoin long funds saw net inflows of $5.7 million last week, with assets under management at around $18.3 billion.
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: CoinShares
｜ Original: Inflows Into Short Bitcoin Products Picked Up Alongside Rally: CoinShares