According to crypto investment firm CoinShares, investment products in the cryptocurrency market have experienced their largest inflows since July, reaching a total of $2.2 billion last week.
CoinShares' Digital Asset Fund Flows Weekly Report for October 21 noted that digital investment products continue to show positive performance as investors remain optimistic about a potential Republican victory in the upcoming US election.
CoinShares head of research James Butterfill attributed this renewed optimism to the belief that a Republican victory would be more favorable for digital assets.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
The US saw the largest increase in inflows during the week of Oct. 12-18, with a total of $2.3 billion. In contrast, regions such as Canada and Sweden experienced outflows of $19.9 million and $18.2 million, respectively.
Only Australia recorded a positive trend in investments, with inflows of $1.4 million during this period.