Litecoin

Uniswap

Billion

After the US election, digital asset investment products attracted $1.98 billion in inflows, marking the fifth consecutive week of positive inflows. This resulted in year-to-date total inflows to hit a new record of $31.3 billion.
Global assets under management also hit an all-time high of $116 billion following recent price increases. Trading volumes surged by $20 billion, the highest since April, though not a new record.
<h2 id="market-bullishness-puts-pressure-on-short-bitcoin-products">Market Bullishness Puts Pressure on Short-Bitcoin Products</h2>
According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly <a href="https://blog.coinshares.com/volume-208-digital-asset-fund-flows-weekly-report-20c547f8f8ef" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Report</a>, Bitcoin saw $1.8 billion in inflows, bringing the total to $9 billion since the US Federal Reserve’s first interest rate cut of the cycle in September.
The supportive macro environment, alongside major <a href="https://cryptopotato.com/election-euphoria-sparks-2-2-billion-inflows-with-bitcoin-as-the-sole-beneficiary/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">shifts</a> in the US political system, is believed to have contributed to the strong investor sentiment, as per the asset manager.
Ethereum also saw inflows of $157 million last week after a period of underperformance. In fact, this was the biggest inflow since the July spot Ether ETF launches, indicating a significant improvement in market sentiment toward the cryptocurrency. Next up was multi-asset products, with inflows of $23.4 million over the past week.
Several other altcoins experienced inflows, led by Solana with $3.9 million and Uniswap with $1 million. XRP and Tron each saw inflows of $0.5 million, while Litecoin and Cardano had smaller inflows of $0.2 million and $0.1 million, respectively. Blockchain equities also saw inflows totaling $61 million.
During the same period, short-Bitcoin products experienced outflows of $2.7 million, marking the only cohort of digital asset investment products to see negative movement. While the broader market saw strong inflows, the outflows from short-Bitcoin products suggest that investors were positioning themselves more cautiously or betting on further price appreciation.
<h2 id="us-leads-regional-inflows">US Leads Regional Inflows</h2>
The US led regionally with inflows of $1.95 billion, followed by Europe, where Switzerland and Germany saw inflows of $23 million and $20 million, respectively. Sweden, however, saw outflows of $25.7 million.
Zooming out, Australia and Brazil attracted $6 million and $3.7 million in inflows over the past week. On the other hand, Canada and Hong Kong experienced modest outflows of $1.7 million and $0.8 million, respectively.
The post <a href="https://cryptopotato.com/post-election-market-boost-crypto-inflows-near-2-billion/" rel="noopener noreferrer nofollow">Post-Election Market Boost: Crypto Inflows Near $2 Billion</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Post-Election Market Boost: Crypto Inflows Near $2 Billion

Table of Contents

CryptoPotato_News

Other articles published on Nov 11, 2024

Bitcoin Options Open Interest Above $90,000 Surges to $2.8 Billion on Deribit, Signaling Bullish ...

Crypto Experts Explain Yeti Ouro (YETIO)'s Rise To Fame! Dogecoin Price Predicted To Be Left Behind

This Analyst Reveals Why Bittensor (TAO) Price Could See a Major Surge – Here’s the Outlook!

Ex-Alameda exec Trabucco gives up yacht, apartments in FTX settlement

Old Giant Awakens: Shiba Inu Up 35% as Whales Move SHIB

Hong Kong Stock Exchange to Launch Unified Bitcoin and Ethereum Index

Join our free newsletter for daily crypto updates!