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Home»ADOPTION NEWS»$2.2 billion inflow into digital assets due to US election, led by Bitcoin (BTC)
ADOPTION NEWS

$2.2 billion inflow into digital assets due to US election, led by Bitcoin (BTC)

By Crypto FlexsNovember 18, 20242 Mins Read
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.2 billion inflow into digital assets due to US election, led by Bitcoin (BTC)
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Jessie A. Ellis
November 18, 2024 10:24

Bitcoin and Ethereum have seen significant activity following the recent US election, sparking $2.2 billion inflows into digital assets, according to CoinShares.





CoinShares reports that the aftermath of the recent US election saw $2.2 billion flow into digital assets. These inflows brought annual inflows to an unprecedented $33.5 billion and pushed total assets under management (AuM) to a new high of $138 billion.

significant inflows and outflows

During the first half of this week, digital asset inflows reached $3 billion. However, in the second half, the price of Bitcoin (BTC) reached an all-time high and an outflow of $866 million occurred, showing a reversal. Bitcoin itself attracted $1.48 billion in inflows, while short Bitcoin products attracted $49 million.

Ethereum and other assets

Ethereum (ETH) experienced a resurgence with inflows of $646 million, equivalent to 5% of AuM. This rebound is partly due to Justin Drake’s Beam Chain network upgrade proposal and the impact of the US election. Solana (SOL) also saw positive inflows of $24 million.

Regional Investment Dynamics

Regionally, the United States leads the way with inflows of $2.2 billion, followed by Hong Kong, Australia, and Canada with inflows of $27 million, $18 million, and $13 million, respectively. Conversely, investors in Sweden and Germany leveraged their profits, resulting in outflows of $58 million and $6.8 million.

The recent surge in investment activity highlights the impact of looser monetary policy and the Republican presidential landslide victory, as CoinShares points out. Digital asset markets continue to evolve due to a mix of geopolitical events and technological advancements.

For more information, visit the official CoinShares website.

Image source: Shutterstock


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