Source: cryptoslate
Compiled by: Blockchain Knight
Last week, digital asset investment products saw inflows of 2.2 billion dollars. This reflects a broader market uptrend spurred by Trump's victory in the U.S. presidential election.
A few days ago, the digital asset market reached a peak inflow of 3 billion dollars, bringing total assets under management (AUM) to a historic high of 138 billion dollars.
BTC's record price performance during this period prompted an outflow of about 866 million dollars, with a net inflow of 2.2 billion dollars.
According to CoinShares data, the total inflow of funds reached 11.7 billion dollars since the interest rate cut in September. Year-to-date, total inflows have reached 33.5 billion dollars.
CoinShares research director James Butterfill explained: "The recent surge in activity appears to stem from two reasons: first, the loose monetary policy, and second, the Republican party's significant victory in the recent U.S. election."
BTC's dominance remains strong, with inflows totaling 1.48 billion dollars.
The significant inflow of funds is related to the strong performance of U.S. spot exchange-traded fund (ETF) products, which continue to attract significant attention from both retail and institutional traders.
According to data from CoinShares, BlackRock's IBIT and Fidelity's FBTC saw inflows of 2.1 billion dollars and 4 million dollars, respectively.
On the other hand, the Ark 21 Shares fund experienced an outflow of 153 million dollars, surpassing Grayscale's outflow of 108 million dollars this week.
Meanwhile, BTC's record price performance above 90,000 dollars attracted bearish traders, who invested 49 million dollars shorting BTC products.
Additionally, the bullish market sentiment seems to have influenced interest in Ethereum, which also attracted a significant inflow of 646 million dollars (equivalent to 5% of its assets under management).
Butterfill linked this inflow of funds to the election results and the proposed Beam Chain network upgrade.
Other assets, including Solana, XRP, and Cardano, saw smaller inflows of 24 million dollars, 4.3 million dollars, and 3.4 million dollars, respectively.
