Digital Asset Inflows Surge to $407M Amid U.S. Election-Driven Investor Sentiment
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Digital asset investment products experienced a significant surge in inflows, reaching $407 million, largely driven by investor sentiment surrounding the upcoming U.S. elections.
According to a Monday report by CoinShares, political developments, rather than monetary policy outlooks, are influencing investor decisions.
Notably, stronger-than-expected economic data failed to reverse outflows, while a recent shift in polling toward Republicans, perceived as more favorable to digital assets, sparked a rapid increase in both inflows and asset prices.
The U.S. accounted for the bulk of the inflows, with $406 million, while Canada followed with $4.8 million.
Bitcoin emerged as the primary beneficiary, attracting $419 million in inflows.
Meanwhile, short-Bitcoin products experienced outflows of $6.3 million, reflecting investors’ optimism about Bitcoin’s future.
Multi-asset investment products continued their streak with a 17th consecutive week of inflows, though modest at $1.5 million.
Ethereum, on the other hand, saw continued outflows, totaling $9.8 million.
Additionally, blockchain equity ETFs recorded one of their largest weekly inflows of the year, drawing $34 million, likely in response to rising Bitcoin prices.
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