According to data from financial analysis firm S3Partners, short sellers of cryptocurrency-related U.S. stocks have yielded about 126% by market price this year, far exceeding short sellers in other industries, despite the prevailing risk aversion in the stock market.
According to S3, the average short interest of short sellers in the crypto space is $3 billion. Shares of Coinbase and Microstrategy are down 78.6% and 69%, respectively, this year.
Coinbase and Microstrategy are short at 15% and 27.5%, respectively, according to S3. According to data from S3Partners, new short sales in cryptocurrency-related stocks have reached $71 million so far this month.