Election Euphoria Sparks $2.2 Billion Inflows, With Bitcoin as the Sole Beneficiary

The excitement surrounding a potential Republican victory spurred $2.2 billion in weekly inflows, pushing year-to-date inflows to a whopping $29.2 billion. This increase, along with rising prices, propelled assets under management past $100 billion. Interestingly, this level was last seen in early June 2024, when AuM hit $102 billion.

As a result, the trading volume surged 67% over the week, totaling $19.2 billion and comprising 35% of all bitcoin trading on reliable exchanges.

Republican Win Anticipation Propel Massive Inflows

Ethereum received a modest $9.5 million, which lags behind the stronger enthusiasm for Bitcoin and Solana, the latter seeing $5.7 million in new funds. Among other altcoins, Polkadot and Arbitrum recorded inflows of $0.67 million and $0.2 million, respectively.

Bitcoin’s Sensitivity to US Election Outcome

Coinshares report also validated this sentiment as it revealed weekly inflows reaching $2.2 billion in the US, driven by early-week enthusiasm over Republican election prospects. However, as polls shifted later in the week, slight outflows on Friday underscored Bitcoin’s sensitivity to US election outcomes.

On a more global scale, Germany also recorded a smaller inflow of $5.1 million. Australia and Hong Kong settled with $2.1 million and $0.7 million inflows over the past week. Canada and Sweden recorded the largest outflows with $24.4 million and $20.3 million respectively, followed by Switzerland with $13.8 million. Brazil also saw a minor outflow of $0.5 million.