With $2.2 billion in inflows, bitcoin (BTC) was identified in Coinshares’ analysis as the main asset fuelling the spike.
Due to the past week’s inflows and previous price increases, total assets under management (AUM) have already surpassed $100 billion for the second time in history, reaching levels that were last observed in early June 2024 at $102 billion. Weekly trade volumes increased by 67% to $19.2 billion, amounting to 35% of all bitcoin transactions on reliable exchanges.
The United States produced a majority of the inflows with moderate contributions from Germany ($5.1m), Australia ($2.1m), and Hong Kong ($0.7m), highlighting a diverse global investment landscape.
Ethereum (ETH) experienced a sharp contrast to bitcoin’s bullishness with modest inflows of $9.5 million. On the other hand, Solana witnessed an additional $5.7 million in inflows last week. There were also small inflows into a variety of altcoins, with Polkadot ($0.67m) and Arbitrum ($0.2m) standing out.
This rise in digital asset investments could be indicative of the growing possibility of a Republican victory in the U.S. elections. Donald Trump‘s pro-crypto stance has seen investors use digital assets as an investment hedge against the turbulent global political and economic landscape.
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