CoinShares: Digital asset investment products saw a net inflow of $2.2 billion last week, the largest weekly increase since July

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 volumes in investment products surged by 30%, while price increases and inflows brought total assets under management close to the $100 billion threshold. Regional flows showed a polarized picture, with the United States seeing inflows of $2.3 billion, while almost all other countries saw small outflows, most notably Canada, Sweden, and Switzerland, at $20 million, $18 million, and $15 million, respectively. This was likely 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, 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.