CoinShares, a digital assets manager, has reported that institutional investors poured billions of dollars into crypto products last week. According to CoinShares’ latest Digital Asset Fund Flows report, institutional investment products in the crypto market experienced a significant increase of $2.2 billion in net inflows. This surge in inflows, the largest in four months, is attributed to growing optimism among investors regarding a potential victory for Republican presidential candidate Donald Trump. However, it is important to note that not all national polls support CoinShares’ viewpoint, as Democratic nominee Kamala Harris still maintains a lead in many of them.
The report states, “Digital asset investment products witnessed inflows of $2.2 billion, marking the highest weekly increase since July of this year. We believe that this renewed optimism is a result of the growing expectations of a Republican victory in the upcoming US elections, as they are generally seen as more supportive of digital assets. Consequently, this has led to positive price momentum. As a result, trading volumes in investment products have surged by 30%, while price appreciation and inflows have pushed total assets under management close to the $100 billion mark.”
CoinShares’ presidential thesis is supported by the fact that the majority of inflows, $2.3 billion, came from the US market. Moreover, Bitcoin (BTC) products attracted $2.13 billion in inflows, while Ethereum (ETH) broke its downtrend and brought in $58 million in inflows.
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