Cryptocurrency investment products saw significant inflows, reaching $2.2 billion weekly, the highest since July, as reported by CoinShares. The positive trend is attributed to optimism surrounding a potential Republican victory in the US election. The US led the surge with $2.3 billion in inflows, while Canada and Sweden experienced outflows. Australia recorded $1.4 million in positive investments. Profit-taking in Canada amid bullish market activity in the US contributed to minor outflows. Bitcoin dominated with $2.13 billion in inflows, driven by BlackRock's iShares Bitcoin ETF. Ether-based products received $58 million in inflows, while short-Bitcoin products saw $12 million inflows, the largest since March. Multi-asset products had outflows after 17 weeks of consecutive inflows. Overall, October saw $2.4 billion in inflows, aligning with the typical 'Uptober' trend in the crypto market. Read more AI-generated news on: https://app.chaingpt.org/news
Record Inflows in Cryptocurrency Investment Products Amid US Election Optimism
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