Hedge funds bet on bitcoin dropping and institutional investors store crypto on Binance

Hedge funds bet on bitcoin dropping

Ryan Todd, the analyst of The Block portal, found out that last week hedge funds opened short positions on CME exchange, however other participants of the market were inclinced towards the growth of bitcoin. The data is taken from Commodity Futures Trading Commission (CFTC).

“This is notable as throughout 2019, hedge funds have been relatively net neutral, while asset managers and non-reportable traders skew heavily long (>80%),” — Todd said.

Binance: institutional investors keep cryptocurrency on the exchange

The largest cryptocurrency trading platform ran a survey among institutional investors. It turned out that 92% of them keep their assets on the exchange’s wallets. 32,9% investors use “cold” wallets, and only 18,40% use “hot” ones.

Meanwhile, 92% of respondents said that they do not manage the cryptocurrency themselves, but keep it with trusted third parties. The survey has been carried out among 76 institutional investors trading on Binance.

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