Optimistic Sentiment for Republican Victory Drives 22 Billion Weekly Inflow into BTC and ETH Products

News report:
With less than a month to go until Election Day, as the US presidential election becomes more intense, data from last week shows that the inflow of digital assets has surged to $2.2 billion.
This figure marks the highest level since July, thanks to the optimism about the success of the Republican Party in the election.
Optimism about the US election is soaring, and fund inflows are surging.
According to the latest version of CoinShares’ Digital Asset Fund Flows Weekly report, trading volumes of investment products have increased by 30%, leading to price increases and bringing the total managed assets close to the $100 billion mark. However, the distribution of these inflows varies by region. The United States is the clear leader this week, with inflows of $2.3 billion.
Digital asset managers state that “We believe this new optimism stems from increasing expectations of the Republican Party’s success in the upcoming US election, as it is widely believed that the Republican Party is more supportive of digital assets.”
Australia also saw a moderate inflow of $14 million, making it the only country to receive positive inflows. On the other hand, almost all other countries experienced minor capital outflows, with Canada, Sweden, and Switzerland leading with outflows of $20 million, $18 million, and $15 million, respectively.
In addition, Brazil and Germany also experienced outflows of $9 million and $6 million, respectively, while Hong Kong saw a small outflow of $1.5 million during the same period.
Bitcoin leads, while multi-asset products face setbacks.
In the past week, Bitcoin led the market with an inflow of $2.13 billion. The price increase also sparked interest in Bitcoin short products, attracting $12 million. Interestingly, this is the largest inflow since March. Ethereum also benefited from this, recording an inflow of $58 million.
Several altcoins followed closely behind, with Solana earning $2.4 million, Litecoin earning $1.7 million, and XRP earning $700,000. In contrast, multi-asset products faced outflows of $5.3 million per week, ending their impressive 17-week streak of continuous inflows.
Cardano and Binance also recorded outflows of $1.5 million and $800,000, respectively.