CDS Crypto News Crypto Funds Rebound: CoinShares Reports $407M Crypto Fund Inflows Amid U.S. Election Uncertainty
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Crypto Funds Rebound: CoinShares Reports $407M Crypto Fund Inflows Amid U.S. Election Uncertainty

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Crypto Funds Rebound CoinShares Reports $407M Crypto Fund Inflows Amid U.S. Election Uncertainty

CoinShares: U.S. Election Influences $406M Inflows to Crypto Funds Rebound

CoinShares: U.S. Election Influences $406M Inflows to Crypto Funds Rebound

CoinShares reports that after $147 million in outflows the week before, net inflows into international crypto funds managed by asset managers like BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares recovered to net inflows of $407 million last week. James Butterfill, Head of Research at CoinShares, said Monday that the impending U.S. elections have probably had a greater impact on recent investor choices than monetary policy outlooks. According to Butterfill, U.S.-based funds contributed $406 million, dominating last week’s net inflows.

This trend is evident in the fact that stronger-than-expected economic data had little impact on stemming outflows, whereas the recent U.S. vice presidential debate and a subsequent shift in polling towards the Republicans, perceived as more supportive of digital assets, led to an immediate boost in inflows and prices,

Butterfill

Polymarket Predicts Trump Lead, Bitcoin ETFs Surge with $348M Inflows

Polymarket Predicts Trump Lead, Bitcoin ETFs Surge with $348M Inflows

The decentralized prediction platform Polymarket now has Republican candidate Donald Trump ahead of Democrat Kamala Harris by 54% to 45.4% odds to win the Nov. 5 presidential election. The former president is also leading in five of six battleground states. The probability of a Republican Senate is 78%, a Democrat House is 56%, and a Republican sweep is 38%, while the odds for the Democrats is 17%, according to Polymarket.

Although the U.S. spot Bitcoin ETFs recorded net daily outflows from Tuesday to Thursday, they recorded $348.5 million in net inflows last week, bookending the week with more than $200 million in positive flows on Monday and Friday. Investment products based on bitcoin saw net inflows of $419 million for the week, making them the main benefactor of recent political changes, according to Butterfill. Last week, net withdrawals from short-bitcoin funds totaled $6.3 million.

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Crypto Funds Rebound: CoinShares Reports $407M Crypto Fund Inflows Amid U.S. Election Uncertainty
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lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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