Digital Asset Investment Products See Record-Breaking Surge, AUM Crosses $100B
- Susan SarandonOriginal
- 2024-11-05 21:04:17937browse
Digital asset investment products witnessed a record-breaking surge last week, with inflows totaling $2.2 billion. This, pushed year-to-date inflows to an unprecedented $29.2 billion, according to the latest CoinShares report.
Digital asset investment products saw record-breaking inflows last week, totaling $2.2 billion, pushing year-to-date inflows to $29.2 billion, according to CoinShares.
This steady capital wave, coupled with recent price rallies, has driven total Assets Under Management (AUM) past the $100 billion mark.
“We believe euphoria around the prospect of a Republican victory were the likely reason for these inflows as they were in the first few days of last week,” said James Butterfill, Head of Research at CoinShares.
However, as polling trends shifted, minor outflows were observed on Friday, highlighting Bitcoin’s sensitivity to the U.S. election landscape.
Bitcoin captured almost all digital asset inflows last week, with an additional $8.9 million directed into short-Bitcoin positions following its recent price appreciation.
Meanwhile, Ethereum [ETH] saw only modest inflows of $9.5 million.
Cumulative data from SoSo Value shows a striking difference, with Ethereum’s total net outflows reaching $554.66 million on November 4th, while Bitcoin’s net inflows stood at $23.61 billion.
As Americans vote, recent predictions indicate shifting odds in the Oval Office race. Earlier, Donald Trump had a strong lead over Kamala Harris, with over a 60% chance of winning, according to Polymarket.
However, the numbers have changed, with Trump now having a 59.5% chance and Harris a 40.6% chance, as per the latest data.
With political momentum influencing inflows, the digital asset market is being closely watched as a barometer of both financial innovation and investor sentiment amid the high-stakes U.S. election.
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