Digital Asset Markets Witness a Surge as Inflows Hit $2.2 Billion, the Largest Since July 2024

This surge is largely driven by optimism surrounding a potential Republican victory in the upcoming US elections, which is seen as favorable for the crypto sector.

key takeaways:

Digital asset markets experienced a surge with $2.2 billion in inflows, the highest since July 2024.

U.S. inflows were $2.3 billion, driven by optimism over a potential Republican election victory.

Bitcoin dominated with $2.13 billion in inflows, followed by Ethereum at $58 million.

Solana, Litecoin, and XRP also saw smaller but positive inflows, while multi-asset products had outflows.

Digital asset investment products saw a surge of $2.2 billion in inflows last week, according to the latest report by CoinShares. This marks the largest weekly inflow since July 2024, bringing the year-to-date inflows to $38.4 billion.

The inflows were primarily driven by growing optimism among investors regarding a potential Republican victory in the upcoming U.S. elections. Such an outcome is generally viewed as more favorable for the crypto sector.

U.S. Dominates Inflows, Minor Outflows in Other Regions

The United States led the inflows with a contribution of $2.3 billion, while other regions, such as Canada, Sweden, and Switzerland, experienced minor outflows.

Canada saw an outflow of $20 million, Sweden $18 million, and Switzerland $15 million, which CoinShares attributes to investors in these regions booking profits on the recent market rally, leading to a slowdown in inflows compared to the U.S.

Bitcoin Continues to Lead

Bitcoin remained the dominant digital asset in terms of inflows, securing $2.13 billion. This was further bolstered by $12 million flowing into short-Bitcoin products, marking the largest weekly inflow since March 2024.

The recent price appreciation in Bitcoin and the anticipation of further gains appear to be driving increased interest in both long and short-Bitcoin investment products.

Ethereum and Altcoins See Positive Inflows

Ethereum also saw positive momentum with $58 million in inflows, while several altcoins posted smaller but positive inflows:

Solana (SOL) had inflows of $2.4 million.

Litecoin (LTC) saw inflows of $1.7 million.

XRP had inflows of $0.7 million.

Multi-Asset Products See Outflows

While Bitcoin and other digital assets attracted strong inflows, multi-asset products saw $5.3 million in outflows, ending a 17-week streak of consecutive inflows.

According to CoinShares, this shift may indicate a broader market adjustment, with investors pivoting away from multi-asset products andへとincreasingly directing funds toward specific digital assets.

The digital asset market continues to show strength, with inflows nearing $100 billion in total assets under management. This, combined with optimism surrounding the U.S. elections and favorable market conditions, is propelling investment into Bitcoin and other cryptocurrencies. However, profit-taking in non-U.S. regions and outflows from multi-asset products present a more nuanced global market outlook.

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