US election hopes spark three-month high inflow of over $2 billion in crypto investments
Global digital asset investment products experienced inflows of $2.2 billion, the highest in three months, driven by optimism regarding the upcoming US elections. Expectations of a Republican victory, perceived as favorable for cryptocurrencies, contributed to this surge. Prediction markets indicate Donald Trump has a 61% chance of winning the election. Trading volumes increased by 30%, raising assets under management to nearly $100 billion. Significant investments in US-traded Bitcoin ETFs accounted for $2.13 billion of the inflows, marking the first time since March 2024 that weekly inflows exceeded $2 billion. While US ETPs saw inflows, Canada, Sweden, and Switzerland experienced outflows totaling $53 million. Bitcoin attracted short traders with $12 million invested in Short Bitcoin products. Ethereum recorded $58 million in inflows, totaling $783 million for the year. Other assets like Solana, Litecoin, and XRP also saw inflows.
