Inflows into crypto derivatives have reached a record $17,8 billion since the beginning of the year

What’s new? Analysts at the investment firm CoinShares report that last week, inflows into cryptocurrency derivatives totaled $1,44 billion. As a result, the YTD figure reached a record $17,8 billion, which is significantly higher than the result for the whole of 2021 ($10,6 billion). Analysts attributed the inflow of funds to the general fall in prices in the crypto market, as a result of which investors began to buy crypto derivatives more actively.

CoinShares report

What else is known? Regionally, the traditional leader was the United States with $1,3 billion in inflows, although positive sentiment was seen in other countries as well, most notably Switzerland with a record $58 million in inflows this year, and Hong Kong and Canada with $55 million and $24 million, respectively.

Bitcoin-based investment products saw the fifth-largest weekly inflow of funds in the history of observations at $1,35 billion. In turn, bitcoin short positions saw a record outflow of $8,6 million since April of this year.

CoinShares believes that the increase in investor positions was prompted by the sale of confiscated bitcoins by the German government, as well as a lower-than-expected consumer price index in the United States.

The inflow was also observed in a wide range of altcoin-based products, among which the best result was demonstrated by Ethereum, with an inflow of $72 million. The figure was the largest since March and is likely related to the pending approval of spot ETH exchange-traded funds (ETFs) in the US, analysts write.

Among other altcoins with large capitalization stood out Solana, Avalanche, and Chainlink: the inflow into derivatives on their basis for the week amounted to $4,4, $2 and $1,3 million, respectively.

Earlier, it became known that during the decline of the crypto market at the beginning of the month, large holders of bitcoin added to their wallets 71 000 coins worth $4,5 billion at the current exchange rate. In the first ten days of July, the number of wallets with a balance of at least 10 BTC increased by 261 pieces.