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CoinShares: Digital asset investment products saw a net inflow of $2.2 billion last week, the largest weekly increase since July
2024-10-21 10:47
Odaily News According to the latest weekly data from CoinShares, digital asset investment products saw inflows of $2.2 billion, the largest weekly increase since July this year. This new optimism stems from growing expectations of a Republican victory in the upcoming US election, as they are generally seen as more supportive of digital assets. This in turn has led to positive price momentum. As a result, trading volume in investment products surged by 30%, while price increases and inflows brought total assets under management close to the $100 billion threshold. Regional fund flows showed a polarized picture, with $2.3 billion in inflows into the United States, while almost all other countries saw small outflows, most notably Canada, Sweden, and Switzerland, at $20 million, $18 million, and $15 million, respectively. This may be due to small profit-taking outside the United States. Bitcoin was the main beneficiary, with inflows of $2.13 billion, and recent price increases prompted inflows of $12 million in short Bitcoin funds, the largest inflow since March this year. Ethereum also saw inflows of $58 million, while a number of altcoins also saw inflows, such as Solana ($2.4 million), Litecoin ($1.7 million), and XRP ($0.7 million). Multi-asset products saw outflows of $5.3 million, ending a 17-week streak of inflows.