Weekly Inflows into Crypto Products Reach $2.2B

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According to data from CoinShares, asset management firms such as BlackRock, Bitwise, Grayscale, ProShares, and 21Shares experienced significant net inflows of $2.2 billion last week, the highest since July.

This surge in funds could be attributed to a growing anticipation of a Republican victory in the upcoming US election, as the party is generally seen as being more supportive towards digital assets.

CoinShares’ Head of Research, James Butterfill, reiterated his previous views on this trend, stating that it has also led to a positive increase in trading volume and a nearing of the $100 billion threshold for total assets under management globally.

Currently, Republican candidate Donald Trump has higher odds of winning against Democrat Kamala Harris, with Polymarket’s decentralized prediction platform predicting a Republican victory in all six swing states, as well as a Republican Senate and a Democrat House.