Bitcoin sees $2.2 billion inflow ahead of election
Bitcoin (CRYPTO:BTC) attracted significant investor interest last week, receiving $2.2 billion in inflows, according to the latest Digital Asset Fund Flows Weekly Report.
Anticipation around a potential Republican election victory has spurred interest in Bitcoin, with inflows pushing total assets under management (AuM) beyond $100 billion for the first time since June 2024.
This week’s rise in AuM brings the year-to-date total to $29.2 billion.
The excitement surrounding Bitcoin has also led to a 67% surge in trading volume, totaling $19.2 billion, which represents 35% of all Bitcoin trades on verified exchanges.
While Bitcoin dominated inflows, other assets saw limited gains.
Ethereum (CRYPTO:ETH) received $9.5 million, followed by Solana (CRYPTO:SOL) with $5.7 million.
In comparison, smaller inflows were recorded for Polkadot (CRYPTO:DOT) at $0.67 million and Arbitrum (CRYPTO:ARB) at $0.2 million.
Meanwhile, some assets saw outflows, with multi-asset products facing a $3.1 million outflow after gains the previous week.
Litecoin (CRYPTO:LTC) and XRP (CRYPTO:XRP) also experienced minor outflows of $0.8 million and $0.1 million, respectively.
According to Coinshares, the inflows were particularly driven by optimism around Donald Trump’s potential return to office, as he has been noted for his pro-crypto stance.
“Traders are placing significant bets on Trump’s chances of victory,” the report highlighted, with substantial investments tied to his prospects.
However, slight outflows on Friday indicated Bitcoin’s sensitivity to changing poll numbers as the election approaches.
Internationally, Bitcoin inflows varied, with Germany receiving $5.1 million, Australia $2.1 million, and Hong Kong $0.7 million.
Canada and Sweden, however, saw the highest outflows, with $24.4 million and $20.3 million, respectively, followed by Switzerland with $13.8 million.
Brazil also recorded a smaller outflow of $0.5 million.
At the time of reporting, the Bitcoin (BTC) price was $67,716.94.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Crosses $3,400 as WFL Makes Second Major ETH Investment
Ripple CEO Reveals the Truth About the Amount of XRP on the Company's Balance Sheet
Tether to Build 70-Story Skyscraper in El Salvador, Symbol of Prosperity
Tech giants bounce back after AI disruption, S&P 500 nears record high
Share link:In this post: Last week, the largest tech firms in the US experienced huge challenges from Chinese AI, DeepSeek. Apple and Meta reported positive results, boosting the S&P 500. The Magnificent Seven’s price-to-earnings ratio is now 31.