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Bitcoin

Beam

Investment in digital assets saw an influx of $2.2 billion last week, increasing total inflows since September’s rate cuts to $11.7 billion and lifting the year-to-date total to an all-time high of $33.5 billion. 
While $3 billion flowed in during the early part of the week, a rise in Bitcoin’s price triggered $866 million in outflows towards the end. As a result, total assets under management stood at $138 billion earlier in the week. 
CoinShares said that this upturn is likely driven by both a shift to easier monetary policies and the Republican party’s “clean sweep” in the recent US elections. 
<a href="https://blog.coinshares.com/volume-209-digital-asset-fund-flows-weekly-report-da70460ee4f3?gi=c1619e17af1b" data-wpel-link="external" target="_blank">According</a> to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report, Bitcoin recorded $1.48 billion in inflows. However, as the crypto asset climbed to its recent all-time high price above $93,000, some investors anticipated a correction and aimed to profit from a potential drop in price by shorting Bitcoin. This resulted in $49 million in short Bitcoin products. 
Ethereum also rebounded, pulling in $646 million (5% of AuM), likely fueled by Justin Drake’s Beam Chain proposal and the US election results. 
Meanwhile, Solana had $24 million in inflows, while XRP and Cardano saw $4.3 million and $3.4 million, respectively. Multi-asset products experienced outflows totaling $19.4 million, with Binance also witnessing a minor outflow of $0.4 million. 
Regional sentiment was mixed. The US&nbsp;<a href="https://cryptopotato.com/post-election-market-boost-crypto-inflows-near-2-billion/" target="_blank" rel="noopener" data-wpel-link="internal">led</a> with $2.2 billion in inflows, followed by Hong Kong, Australia, and Canada, which recorded $27 million, $18 million, and $13 million, respectively. Switzerland also recorded modest inflows of $2.5 million. 
Meanwhile, investors in Sweden and Brazil took profits, resulting in outflows of $58 million and $10.5 million, respectively, while Germany, too, experienced an outflow of $6.8 million during the same period. 
The post <a href="https://cryptopotato.com/crypto-inflows-surge-to-2-2-billion-pushing-year-to-date-total-to-record-33-5b/" rel="nofollow">Crypto Inflows Surge to $2.2 Billion, Pushing Year-to-Date Total to Record $33.5B</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Crypto Inflows Surge to $2.2 Billion, Pushing Year-to-Date Total to Record $33.5B

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