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Volume 205: Digital Asset Fund Flows Weekly Report

From CoinShares Research Blog by James Butterfill

Digital Asset Inflows Surge to $2.2bn Amid US Election Optimism

  • Digital asset inflows hit US$2.2bn, the largest since July, driven by optimism over a potential Republican US election win.
  • US inflows reached US$2.3bn, while other regions saw minor outflows, likely due to profit-taking.
  • Bitcoin led with US$2.13bn in inflows, while Ethereum and several altcoins saw smaller gains; multi-asset products broke their 17 consecutive week inflow streak seeing US$5.3m in outflows.

Digital asset investment products saw inflows of US$2.2bn, marking the largest weekly increase since July this year. We believe this renewed optimism stems from growing expectations of a Republican victory in the upcoming US elections, as they are generally viewed as more supportive of digital assets. This, in turn, has led to positive price momentum. As a result, trading volumes in investment products surged by 30%, while price appreciation and inflows have brought total assets under management close to the US$100bn threshold.

Regional flows paint a very polarised picture, with the US seeing US$2.3bn of inflows, while almost every other country saw minor outflows, most notable of which were Canada, Sweden and Switzerland with US$20m, US$18m and US$15m respectively. We believe this may be due to minor profit taking outside the US.

Bitcoin was the main beneficiary, seeing inflows of US$2.13bn, with recent price appreciation prompting inflows into short-bitcoin of US$12m, the largest since March this year.

Ethereum also saw inflows of US$58m, while some altcoins saw inflows, such as Solana (US$2.4m), Litecoin (US$1.7m) and XRP (US$0.7m). Multi-asset products saw outflows of US$5.3m, ending a 17-week streak of consecutive inflows.

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