According to CoinShares, digital asset markets are witnessing a significant surge, with inflows hitting $2.2 billion, the largest since July 2024. This surge is largely driven by optimism surrounding a potential Republican victory in the upcoming US elections, which is seen as favorable for the crypto sector. With Bitcoin leading the charge and Ethereum and other altcoins also seeing gains, the market is approaching a critical threshold of $100 billion in total assets under management, signaling strong investor confidence and growing momentum in the space.

Key Highlights:

  • Total inflows: $2.2 billion, the largest since July 2024.

  • US inflows: $2.3 billion, driven by optimism over potential Republican election victory.

  • Bitcoin: Dominates with $2.13 billion in inflows.

  • Ethereum: Attracts $58 million in inflows.

  • Altcoins: Solana, Litecoin, and XRP see smaller gains.

  • Multi-asset products: End 17-week inflow streak with $5.3 million in outflows.

In the latest report from CoinShares Research, digital asset investment products recorded a surge of $2.2 billion in inflows, marking the largest weekly increase since July 2024. This spike is largely attributed to growing optimism surrounding a potential Republican victory in the upcoming US elections, as such outcomes are perceived as more favorable for the digital asset space.

U.S. Dominates Inflows, Minor Outflows in Other Regions

The US led the way with $2.3 billion in inflows, while other regions, including Canada, Sweden, and Switzerland, experienced minor outflows. Canada saw $20 million in outflows, Sweden $18 million, and Switzerland $15 million, which CoinShares attributes to profit-taking outside the US.

Bitcoin Continues to Lead

Bitcoin remained the dominant digital asset, securing $2.13 billion in inflows. This was further bolstered by $12 million in inflows into short-Bitcoin products, the largest since March 2024. The recent price appreciation is driving increased interest in Bitcoin-related investment products.

Ethereum and Altcoins See Positive Inflows

Ethereum also saw positive momentum with $58 million in inflows. Several altcoins posted smaller but notable gains:

  • Solana (SOL): $2.4 million

  • Litecoin (LTC): $1.7 million

  • XRP: $0.7 million

Multi-Asset Products See Outflows

While Bitcoin and other digital assets attracted strong inflows, multi-asset products saw $5.3 million in outflows, ending a 17-week streak of consecutive inflows.

The digital asset market continues to show strength, with inflows nearing $100 billion in total assets under management. Optimism surrounding the US elections, combined with favourable market conditions, is propelling investment into Bitcoin and other cryptocurrencies. However, profit-taking in non-US regions and outflows from multi-asset products show a more nuanced global market outlook.

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