$2,200,000,000 Hits Institutional Crypto Products in One Week As Optimism About Election Grows: CoinShares

Digital assets manager CoinShares says that institutional crypto investors dropped billions of dollars into crypto products last week.

In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment products saw a surge in inflows to the tune of $2.2 billion on net last week.

With last week marking the heaviest inflows in four months, CoinShares attributes the growth to what it interprets as growing optimism for a victory for Republican presidential candidate Donald Trump. Not all recent national polls reflect CoinShares’ view on the matter as Democratic nominee Kamala Harris still holds a lead in many of them.

“Digital asset investment products saw inflows of US$2.2bn, marking the largest weekly increase since July this year. We believe this renewed optimism stems from growing expectations of a Republican victory in the upcoming US elections, as they are generally viewed as more supportive of digital assets.

This, in turn, has led to positive price momentum. As a result, trading volumes in investment products surged by 30%, while price appreciation and inflows have brought total assets under management close to the US$100bn threshold.”

The US brought in the majority of inflows at $2.3 billion, supporting CoinShares’ presidential thesis.

Bitcoin (BTC) products raked in $2.13 billion in inflows while Ethereum (ETH) broke its downtrend to bring in $58 million in inflows.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3