Crypto inflows rise to $2.2 billion, pushing annual total to $33.5 billion

Investment in digital assets saw an inflow of $2.2 billion last week, raising total inflows since the rate cut in September to $11.7 billion and lifting the year-to-date total to an all-time high of 33.5 billion dollars.

While $3 billion came in during the first part of the week, a surge in the price of Bitcoin led to $866 million in outflows towards the end. As a result, total assets under management stood at $138 billion at the start of the week.

CoinShares said this rally is likely due to both a shift toward easier monetary policies and the “clean sweep” of the Republican party in the recent US election.

According to the latest edition of CoinShares’ Weekly Digital Asset Fund Flows Report, Bitcoin recorded $1.48 billion in inflows. However, as the crypto asset rose to its all-time high price above $93,000, some investors anticipated a correction and sought to profit from a possible price drop by shorting Bitcoin. This resulted in $49 million in short Bitcoin products.

Ethereum also bounced back and hit $646 million (5% of AuM), likely boosted by Justin Drake’s Beam Chain proposal and the US election results.

Meanwhile, Solana had $24 million in inflows, while XRP and Cardano got $4.3 million and $3.4 million, respectively. Multi-asset products saw outflows totaling $19.4 million, with Binance also witnessing a smaller outflow of $0.4 million.

Regional sentiment was mixed. The US led with $2.2 billion in admissions, followed by Hong Kong, Australia and Canada, which recorded $27 million, $18 million and $13 million, respectively. Switzerland also recorded modest inflows of $2.5 million.

Meanwhile, investors in Sweden and Brazil profited, leading to outflows of $58 million and $10.5 million, respectively, while Germany also saw an outflow of $6.8 million over the same period .

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