Crypto investment products are having a great month, with $901 million coming in just last week. This represents 12% of total assets under management, making it the fourth-highest month on record. The year-to-date inflows have reached $27 billion, almost tripling the record from 2021 which saw inflows of $10.5 billion.
Bitcoin attracted the majority of inflows, with $920 million coming in. This was driven by strong demand for BlackRock’s IBIT-led spot BTC ETFs, which saw a cumulative flow of $998 million last week. The US election is influencing Bitcoin flows and prices, with rising inflows likely tied to Republicans’ improved polling numbers.
Both major candidates, former President Donald Trump and Vice President Kamala Harris, are promoting pro-crypto policies to appeal to the growing number of voters who see crypto as a factor in their decision-making. Ethereum experienced outflows totaling $35 million last week, the largest for any digital asset.
This aligns with slower performance in Ethereum-based ETFs and ETH’s ongoing price struggles relative to BTC. Solana, however, gained traction with the second-highest inflow at $10.8 million, followed by Litecoin with $1.8 million. The broader blockchain equities market also showed a positive trend, with inflows recorded for the third consecutive week, totaling $12.2 million last week.
Source
<p>The post Crypto Investment Products Thrive Amid Political Climate first appeared on CoinBuzzFeed.</p>
