CoinShares' report affirms that digital asset investment products recorded an influx of $2.2 billion, representing the most substantial growth since July.

A European investment management firm focusing on alternative assets specifically within the digital realm. CoinShares Their most recent report emphasizes a remarkable $2.2 billion inflow into digital asset investment products, indicating the largest weekly rise since July of this year.

CoinShares indicates that this renewed enthusiasm is fueled by increasing hopes for a possible Republican win in the forthcoming elections. Generally, the Republican party is perceived to be more supportive of digital assets, which has fostered positive trends in pricing. Consequently, trading volumes for these digital asset investment products soared by 30%. This combination of rising prices and inbound investments has nearly pushed total assets under management (AUM) in these products close to the $100 billion milestone. US elections Currently, Polymarket, a decentralized prediction market, suggests that Republican nominee Donald Trump is ahead of Democrat candidate Kamala Harris, with odds of 61.1% to 38.6% for the upcoming presidential election scheduled for November 5th. Recently, Vice President Harris expressed her endorsement for a regulatory framework concerning cryptocurrencies, part of a wider initiative aimed at enhancing wealth-building opportunities for Black men.

Bitcoin leads the charge with $2.13 billion in net inflows for digital assets, while Ethereum and various altcoins also enjoyed notable gains.

According to CoinShares’ findings, Bitcoin was the top recipient of recent inflows, attracting $2.13 billion. Notably, short-Bitcoin investment products gained $12 million, marking the highest influx since March of this year.

Ethereum saw inflows reaching $58 million, with several altcoins benefitting as well. For instance, Solana had $2.4 million in inflows, Litecoin gained $1.7 million, and XRP saw $0.7 million. Conversely, multi-asset products faced a downturn, experiencing outflows of $5.3 million, ending a streak of 17 consecutive weeks of inflows. primary beneficiary Currently, Bitcoin is trading at $68,341, showcasing a slight decline of 0.35% over the last 24 hours. The coin's trading range has been between $68,126 and $69,408. The recent rise in price can be attributed to Bitcoin ETFs, which recorded an influx of $2.13 billion last week.

On the other hand, Ethereum’s value has risen by 2.01% in the past day, bringing its price to $2,707. According to CoinMarketCap, Ethereum's intraday low was $2,643 and the high reached $2,763. Data from SoSoValue indicates that US-based spot Ethereum ETFs saw weekly inflows of approximately $78.89 million.

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Alisa, a passionate journalist with Cryptocurrencylistings, has carved out a niche in the world of cryptocurrency, zero-knowledge proofs, investments, and the dynamic sphere of Web3. With her keen insight into emerging trends and technologies, she provides detailed coverage that engages and informs readers about the rapidly changing world of digital finance.