Weekly inflows into short bitcoin-based instruments amounted to $51 million
According to CoinShares analysts, total inflows into digital asset-based investment products were $61 million
04.07.2022 - 17:35
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What’s new? According to a report from CoinShares, inflows into digital asset-based investment products totaled $61 million between June 27 and July 3. Of those funds, 51 million were invested in bitcoin-based short instruments. Investments in long-term investment products related to the first cryptocurrency amounted to $600 000. Analysts also noted that Ethereum has shown inflows ($5 million) for the second week in a row, breaking an 11-week period of outflows.
What else does the report say? Several altcoins have seen inflows as well. This, according to analysts, indicates that investors have begun to diversify funds. Investments in Solana (SOL)-based products totaled $1 million, Polkadot (DOT) received $700 000, and Cardano (ADA) received $600 000.
Products with multiple digital assets had inflows of $4,4 million. This area remains the least affected by negative market trends.
On June 14, the largest daily bitcoin inflows to platforms since November 30, 2018 were recorded. According to analytics platform CryptoQuant, traders contributed 59 376 BTC to cryptocurrency exchanges. The figure can be attributed to the fact that on that day, the rate of the first cryptocurrency fell to the mark of $20 181.
As of July 4, 15:50 UTC, BTC is trading at $19 790, having added 3,87% over the day (according to Binance).
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Cryptocurrency rates
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Bitcoin
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BTC
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Ethereum
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ETH
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BNB Smart Chain
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BSC
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Ripple
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XRP
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Dogecoin
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DOGE
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Cardano
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ADA
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Stellar XLM
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XLM
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Polkadot
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DOT
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Bitcoin Cash
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Litecoin
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LTC
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