CoinShares: Digital Asset Investment Products Saw $2.2B In Net Inflows, Marking Largest Increase Since July
In Brief
CoinShares highlighted that digital asset investment products saw inflows of $2.2 billion, marking the largest weekly increase since July.
European alternative asset manager specializing in digital assets CoinShares released its latest report, highlighting that digital asset investment products experienced inflows of $2.2 billion, marking the largest weekly increase since July of this year.
According to CoinShares, this renewed optimism is driven by growing expectations of a potential Republican victory in the upcoming US elections. Republicans are generally seen as more favorable toward digital assets, which has contributed to positive price momentum. As a result, trading volumes in digital asset investment products have surged by 30%. The combination of price appreciation and inflows has pushed the total assets under management (AUM) in these products close to the $100 billion mark.
Decentralized predictions platform Polymarket currently shows Republican candidate Donald Trump leading Democrat Kamala Harris with odds of 61.1% to 38.6% for the upcoming presidential election on November 5th. Last week, Vice President Kamala Harris announced her support for a regulatory framework for cryptocurrencies as part of a broader plan aimed at increasing wealth-building opportunities for Black men.
Bitcoin Leads Digital Asset Inflows With $2.13B, Ethereum And Altcoins Also See Gains
According to CoinShares, Bitcoin was the primary beneficiary of recent digital asset inflows, receiving $2.13 billion. Additionally, short-Bitcoin products saw $12 million in inflows, the largest since March this year.
Ethereum also experienced inflows of $58 million, while certain altcoins showed gains as well. Solana saw inflows of $2.4 million, Litecoin gained $1.7 million, and XRP recorded $0.7 million in inflows. In contrast, multi-asset products experienced outflows of $5.3 million, breaking a 17-week streak of consistent inflows.
At the time of writing, Bitcoin is trading at $68,341, reflecting a 0.35% decline over the past 24 hours. The coin’s 24-hour range fluctuated between $68,126 and $69,408. Bitcoin ETFs contributed to the price rise, with $2.13 billion inflows recorded last week.
Meanwhile, Ethereum’s price has increased by 2.01% in the last 24 hours, now trading at $2,707. Ethereum’s intraday low and high were $2,643 and $2,763, respectively, according to CoinMarketCap. US-based spot Ethereum ETFs registered $78.89 million in weekly inflows, according to SoSoValue data.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
