CoinShares has some exciting news about institutional crypto investments. Last week, these investments saw a massive influx of $2.2 billion. That's the highest amount we've seen in four months!
So, what’s driving this surge? CoinShares believes it's all about the growing optimism around a potential win for Republican candidate Donald Trump. While many recent polls show Democratic nominee Kamala Harris in the lead, the sentiment among some investors leans toward a Republican victory.
According to the report, this $2.2 billion inflow marks the largest weekly increase since July. It seems that many investors think a Republican administration would be more supportive of digital assets. This belief has sparked positive price movements in the market.
In fact, trading volumes for these investment products jumped by 30%. As a result of this price growth and the influx of funds, total assets under management are nearing $100 billion.
The United States played a big role in this trend, contributing $2.3 billion of the total inflows. This supports CoinShares' view that the upcoming elections are influencing investment decisions.
Breaking it down further, Bitcoin (BTC) products brought in $2.13 billion, while Ethereum (ETH) turned things around with $58 million in inflows. Quite a week for crypto!