CoinShares: Crypto products hit record YTD inflows of $31.3b

11/11/2024 20:42
CoinShares: Crypto products hit record YTD inflows of $31.3b

Crypto investment products saw nearly $2 billion in post-election inflows, pushing year-to-date inflows to a record $31.3 billion, data from CoinShares indicates

Crypto investment products saw nearly $2 billion in post-election inflows, pushing year-to-date inflows to a record $31.3 billion, according to data from CoinShares.

Crypto investment products recorded $1.98 billion in inflows following last week’s U.S. election, raising year-to-date inflows to a record $31.3 billion and bringing global assets under management to an all-time high of $116 billion, CoinShares reported on Monday, Nov. 11.

This marks the fifth consecutive week of inflows, with the U.S. leading regional interest at $1.95 billion, followed by Switzerland ($23 million) and Germany ($20 million).

Bitcoin led the inflows, attracting $1.8 billion last week and bringing its net inflows since the U.S. Federal Reserve’s rate cut in September to $9 billion. James Butterfill, CoinShares head of research, noted that the surge reflects investor optimism driven by favorable macroeconomic conditions and shifting U.S. political dynamics.

“A combination of a supportive macro environment and seismic shifts in the US political system being the likely reason for such supportive investor sentiment.”

James Butterfill

Ethereum (ETH) also saw significant activity, with $157 million in inflows, marking its largest weekly figure since exchange-traded funds launched in July and indicating renewed interest.

Alternative coins showed gains as well, with Solana (SOL), Uniswap (UNI), and TRON (TRON) receiving $3.9 million, $1 million, and $0.5 million in inflows, respectively. Blockchain equities attracted $61 million, underscoring broader interest in digital assets as trading volumes climbed by $20 billion, the highest level since April.

Following Donald Trump’s recent presidential victory, many analysts expect increased activity among traditional investors in the crypto space, anticipating more cash infusion in crypto-focused exchange-traded funds. Gemini’s co-founder Cameron Winklevoss recently expressed optimism behind Bitcoin’s recent price surge, saying the positive dynamic was likely triggered by “steady ETF demand.” He also implied that the real rally has barely begun, anticipating further growth to $100,000.

As of press time, Bitcoin continues to surpass previous all-time highs, reaching a new peak above the $82,000 mark.

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