Crypto product record major inflow up to $2.2 billion

Digital asset manager CoinShares reported last week that its crypto products saw massive inflows of up to $2.2 billion from institutional investors.

The last US Election on November 5th still increased weekly cryptocurrency flows by up to $2.2 billion. This figure was approximately $1.98 billion, an increase of 15% compared to the previous week.

Digital asset inflows have recorded $33.5 billion since the beginning of the year, with under-asset management (AUM) reaching a new high of $138 billion, CoinShares said on Nov. 18.

Bitcoin (BTC) saw the largest inflow by assets last week, equal to approximately $1.48 billion or 67%. It is followed by Ethereum (ETH) and Solana (SOL) with inflows of $646 million and $23.9 million respectively.

Justin Drake’s Beam Chain network upgrade proposal increased Ethereum’s inflow by $157 million. Only multi-asset and Binance Coin (BNB) are recording a weekly outflow.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) posted the biggest gain in the crypto product, up 63% or $2.1 billion from last week’s inflow. The rest of the fund recorded outflows of between $8 million and $153 million, including from Grayscale and Fidelity.

Crypto product driver: US Election

The combination of looser monetary policy and Republicans winning Congressional and Presidential majorities is the driving factor for these inflows, says James Butterfill, head of research at CoinShares.

Donald Trump winning his second term in the White House brings a positive upswing for the crypto product as well as the cryptocurrency industry. Buterfill mentioned that Trump’s presidency will bring crypto-friendly regulations and fiscal policy.

Previously, Trump had Elon Musk, Tom Emmer and Robert F. Kennedy Jr. as secretaries in his cabinet. He chose several names identified as pro-crypto personalities such as.

The Bitcoin Act and the Bitcoin Strategic Reserve proposed by Republican Senator Cynthia Lummis are also boosting crypto investor confidence. He also stated that this positive outlook could bring Bitcoin its best potential in the future.

“The next four years could see an unprecedented level of institutional support, increased government interest, and broader public adoption that will pave the way for Bitcoin to further solidify its place in the global financial landscape,” Buterfill said in the other report.