Election excitement brought $2.2 billion to crypto funds

Last week, when Bitcoin came very close to its March record, surpassing $73,500, crypto funds also knew how to take advantage of this enthusiasm. While $2.2 billion was entering the funds, there was also a rise in "short-Bitcoin" funds, which invested in the fall of Bitcoin.

The US elections continue to determine the short-term trend in the crypto world. According to the report published by CoinShares last week, net $2.2 billion entered crypto funds.

High investment in "Short-Bitcoin"

In the report, it was stated that with the high probability of Trump winning the election at the beginning of the week, investment in funds increased to serious levels, but with the rise in Kamala Harris on Friday, a sales-heavy path was entered. Especially in this last episode, while the investment in "short-Bitcoin" funds, which invested in the fall of Bitcoin, increased, the funds completed the week with a net inflow of $8.9 million.

It was last seen in June

While the net investment value of crypto funds since the beginning of the year was 29.2 billion dollars, the total asset value under management has increased to 102 billion dollars. This level was last seen in June.

While Solana funds received a net investment of 5.7 million dollars, other altcoins saw slight outflows.

Ether funds are far behind again

Ethereum funds were also well behind the Bitcoin funds that received $2.1 billion in investment and saw a net inflow of 9.5 million dollars. Since the beginning of the year, Bitcoin funds have received a net investment of $27 billion, this figure is only at the level of $758 million for Ether funds.

The most invested funds of the week were BlackRock's Bitcoin and Ether ETFs. Two ETFs totaled $2.2 billion. While Grayscale received 116 million dollars on a weekly basis, Fidelity's ETFs received $90 million.