The excitement surrounding a potential Republican victory spurred $2.2 billion in weekly inflows, pushing year-to-date inflows to a whopping $29.2 billion. This increase, along with rising prices, propelled assets under management past $100 billion. Interestingly, this level was last seen in early June 2024, when AuM hit $102 billion.<\/p>\n
As a result, the trading volume surged 67% over the week, totaling $19.2 billion and comprising 35% of all bitcoin trading on reliable exchanges.<\/p>\n
According to the latest edition of Digital Asset Fund Flows Weekly Report<\/a>, nearly all of last week\u2019s inflows went to Bitcoin, which attracted $2.2 billion. Meanwhile, price increases sparked $8.9 million into short-bitcoin investments.<\/p>\n Ethereum received a modest $9.5 million, which lags behind the stronger enthusiasm for Bitcoin and Solana, the latter seeing $5.7 million in new funds. Among other altcoins, Polkadot and Arbitrum recorded inflows of $0.67 million and $0.2 million, respectively.<\/p>\n On the other hand, multi-asset products faced a setback, with $3.1 million in outflows after\u00a0recovering<\/a> the previous week. Following suit, Litecoin and XRP also faced outflows of $0.8 million and $0.1 million, respectively,<\/span>\u00a0over the past week.<\/p>\n Bitcoin has reacted positively as optimism builds around the possibility of Donald Trump, a self-proclaimed pro-crypto candidate, securing a second term. CryptoPotato<\/em> also recently reported<\/a> that traders are placing significant bets on Trump\u2019s chances of victory. Large crypto investors, in particular, are backing their beliefs with investments tied to the upcoming election.<\/p>\n Coinshares report also validated this sentiment as it revealed weekly inflows reaching $2.2 billion in the US, driven by early-week enthusiasm over Republican election prospects. However, as polls shifted later in the week, slight outflows on Friday underscored Bitcoin\u2019s sensitivity to US election outcomes.<\/p>\n On a more global scale, Germany also recorded a smaller inflow of $5.1 million. Australia and Hong Kong settled with $2.1 million and $0.7 million inflows over the past week. Canada and Sweden recorded the largest outflows with $24.4 million and $20.3 million respectively, followed by Switzerland with $13.8 million. Brazil also saw a minor outflow of $0.5 million.<\/p>\n The post Election Euphoria Sparks $2.2 Billion Inflows, With Bitcoin as the Sole Beneficiary<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The excitement surrounding a potential Republican victory spurred $2.2 billion in weekly inflows, pushing year-to-date inflows to a whopping $29.2 billion. This increase, along with rising prices, propelled assets under management past $100 billion. Interestingly, this level was last seen in early June 2024, when AuM hit $102 billion. As a result, the trading volume […]<\/p>\n","protected":false},"author":0,"featured_media":17749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17748","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\/17748"}],"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=17748"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17748\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17749"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin\u2019s Sensitivity to US Election Outcome<\/h2>\n