As the US presidential race becomes more intense with less than a month away until Election Day, data from last week suggests that digital asset inflows have surged to $2.2 billion.<\/p>\n
This figure marked the highest level since July, spurred by optimism for a potential Republican success in the election.<\/p>\n
According to the latest edition of CoinShares\u2019\u00a0Digital Asset Fund Flows Weekly\u00a0Report<\/a>, the trading volumes of investment products have surged by 30%, resulting in price appreciation, bringing total assets under management close to the $100 billion mark. The distribution of these inflows, however, varied greatly by region. The United States was a clear leader for the week, recording<\/span>\u00a0inflows of $2.3 billion.<\/p>\n The digital asset manager stated,<\/p>\n \u201cWe 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.\u201d<\/p>\n Australia also saw a modest inflow of $1.4 million and emerged as the only other country to experience a positive flow. On the other hand, almost all other nations recorded minor outflows, with Canada, Sweden, and Switzerland leading with $20 million, $18 million, and $15 million outflows, respectively.<\/p>\n Additionally, Brazil and Germany also experienced outflows of $9 million and $6 million, while Hong Kong had a minor outflow of $1.5 million during the same period.<\/p>\n Bitcoin led the market with inflows totaling $2.13 billion over the past week. The price increase also sparked interest in short-bitcoin products, which attracted $12 million. Interestingly, this was the largest inflow since March. Ethereum, too, benefited, recording $58 million in inflows.<\/p>\n Several altcoins followed suit, with Solana pulling in $2.4 million, Litecoin seeing $1.7 million, and XRP bringing in $700,000. Contrastingly, multi-asset products faced weekly outflows of $5.3 million, bringing an end to their impressive<\/a> 17-week streak of continuous inflows.<\/p>\n Cardano and Binance also recorded outflows of $1.5 million and $0.8 million respectively.<\/p>\n The post Optimism for Republican Win Drives $2.2 Billion in Weekly Inflows into BTC, ETH Products<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" As the US presidential race becomes more intense with less than a month away until Election Day, data from last week suggests that digital asset inflows have surged to $2.2 billion. This figure marked the highest level since July, spurred by optimism for a potential Republican success in the election. Inflows Surge Amid US Election […]<\/p>\n","protected":false},"author":0,"featured_media":15372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15371"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15371"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/15372"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin Leads While Multi-Asset Products Face Setback<\/h2>\n