accounted for 80% of weekly inflows.
The $51.4 million reported by short BTC funds last week dominated the inflows of digital asset products, with ETH products bringing in the next-highest amount of just $4.9 million.
Last week, institutional investors piled into investment instruments with exposure to shorting the price of Bitcoin (BTC) to the tune of a record $51.4 million.
Short BTC funds accounted for 80% of the $64 million in inflows for digital asset products between June 27 and July 1, according to data from the most recent edition of the weekly "Digital Asset Fund Flows" report.
The majority of inflows, $46.2 million, came from U.S.-based investors due to strong demand for short-BTC investment products following the June 22 launch of the first-ever U.S.-based short Bitcoin exchange-traded fund (ETF) by ProShares. The ETF offers shorting exposure through futures contracts and trades under the ticker BITI.
So far in 2022, short BTC products have received inflows totaling $77.2 million, trailing only multi-asset products and Solana (SOL) products, which have received inflows totaling $213.5 million and $110.3 million, respectively.
After an extended 11-week pattern of losses, the inflows for other digital asset contracts that offered exposure to Ether (ETH) totaled $4.9 million, representing the second consecutive week of inflows. However, with withdrawals totaling $450.9 million so far this year, ETH funds are still down.
The remaining inflows, totaling $4.4 million, were distributed among multi-asset funds. SOL, Polkadot (DOT), Cardano (ADA), and BTC products also experienced small inflows, totaling $1 million, $700,000, $600,000, and $600,000, respectively.
The sharp increase in short BTC fund inflows last week also coincides with a $423 million outflow from digital asset products the week before. Notably, short BTC funds avoided the bloodbath that week, posting inflows of $15.3 million, whereas BTC products had substantial outflows of $453 million.
