Bitcoin tops $407 million crypto inflows amid election-driven dynamics
Crypto-related investment products experienced inflows of approximately $407 million, primarily influenced by political developments surrounding the upcoming US elections rather than monetary policy changes. Bitcoin-based investment products led with net inflows of $419 million, benefiting from recent political shifts, while short-bitcoin funds saw outflows of $6.3 million, indicating reduced bearish sentiment. Multi-asset investment products achieved their 17th consecutive week of net inflows, totaling $1.5 million, and blockchain equity ETFs gained $34 million. Conversely, Ethereum-based products faced outflows of $9.8 million, while altcoins like Solana, Litecoin, XRP, and Tron attracted around $2 million in inflows. US-based funds contributed $406 million to the total inflows, with Canadian products adding $4.8 million.
