EXITING SHORT POSITIONS. INFLOWS TO ALTCOINS ARE RISING. 🕊️ 🕖

Crypto-asset mutual funds have seen low-end sales of $30 million this week, after seeing outflows of over $1 billion in the previous two weeks.

Although outflows from cryptoasset funds reached their 3rd week, partial outflows of $30 million last week showed that ETF sales slowed down significantly, according to CoinShares data.

While many crypto asset companies saw positive fund flows, Grayscale's $153 million ETF exit dragged the market down. Meanwhile, CoinShares data showed that trading volumes rose 43% from the previous week to $6.2 billion. Still, this is well below this year's weekly volume of $14.2 billion.

Bölgesel bazda bakıldığında ABD, 43 milyon dolar fon girişiyle öne çıkarken Brezilya ve Avustralya’dan da sırasıyla 7,6 milyon dolar ve 2,9 milyon dolarlık girişler raporlandı. Hong Kong ve Almanya ise en yüksek fon çıkışlarının olduğu piyasalar oldu.

On an asset basis, inflows into Bitcoin ETFs remained positive and were reported at $10 million. However, the highest outflows from Ethereum funds since August 2022 caused the fund flow to turn negative. According to CoinShares, Ethereum funds saw sales of $61 million last week. Ether funds, which have shown their worst weekly performance since the beginning of the year, thus fell as much as $ 25 million negative in the first half of the year.

The Bitcoin Short product focused on Bitcoin's decline also saw outflows of $4.2 million, which was interpreted as sentiment towards the largest cryptocurrency starting to turn positive. Funds based on other altcoins recorded partial inflows. $ETH $BTC $NEAR #AVAX #Sol