As the price of bitcoin continues to consolidate around recent lows, investors trimmed their positions in funds designed to profit from further declines in the cryptocurrency.
Investors redeemed a net $7.1 million from short bitcoin funds in the seven days through October 21, the crypto asset manager CoinShares wrote. On a month-to-date basis, assets under management (AUM) in these funds had hit an all-time high of $15 million, representing 10% of total AuM.
While flows have been mixed…
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