- Despite the ongoing price fluctuations across the market, institutional interest in Bitcoin continues to be strong.
Although institutional investors aren’t investing as much in digital asset investments products during the bull market as they were in the bull market, there have been seven consecutive weeks of minor inflows to funds, most of which was in Bitcoin.
CoinShares reports that $6.1 million was transferred into crypto-related funds over the last week. Among specific funds, Bitcoin recorded inflows of $14 million, and accounted for the most trading volume.
As per CoinShares’ Digital Asset Fund Flows Weekly Report, last week’s flows into Bitcoin came with 70% of weekly trading volumes across all investment products. The week’s volume showed a 100% jump from the week ending 21 November.
Short Bitcoin experiences second week of outflows
Investor sentiment was also recorded this week via an inflow into long Bitcoin funds. This week, there were two consecutive weeks of outflows.
The short-bitcoin investment product had outflows of $2.4 million this past week – down from $7.1 million the previous week.
However, with the outflows in October already at $15 million and representing 10% of the total assets under management (AUM), last week’s total brings outflows since mid-September to $20 million. That’s 15% of the total AUM of digital assets investment products.
As CoinJournal reported earlier today, Kevin Dede, CFA, a senior technology analyst at HC Wainwright, says Bitcoin is ‘alive’ and that headlines about miner capitulation and the death of the world’s largest cryptocurrency are “greatly exaggerated.”