) seeing drawdowns of $700,000 and 340,000, respectively. In contrast, blockchain equity investors remained bullish, with inflows of $1.6 million last week. CoinShares suggested that investors are still keen on the underlying technology of digital assets but are wary of the regulatory environment surrounding cryptocurrencies.
According to CoinShares, there was a meager increase in total assets under management of short-Bitcoin products for the week. However, despite recent inflows, short-BTC products have seen a mere 4.2% year-to-date growth in AUM compared to the 36% increase in long-bitcoin AUM. The data suggest that short Bitcoin positions have failed to deliver the expected returns this year.
CoinShares’ data shows that “overall volumes across investment products were low at US$844m for the week,” with Bitcoin market volumes 15% lower than usual, averaging $57 billion.
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