Digital asset investment products saw inflows surge to $2.2 billion last week, marking the largest weekly increase since July 2023.
What Happened: The surge is being attributed to growing optimism surrounding a potential Republican victory in the upcoming U.S. presidential election, as Republicans are generally perceived to be more favorable toward the digital asset sector, according to aCoinsharesreport.
Bitcoin(CRYPTO: BTC) was the main beneficiary, recording an impressive $2.13 billion in inflows.
According to the report from CoinShares, this comes as trading volumes in digital asset investment products increased by 30%.
Price appreciation and inflows have brought total assets under management...
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