Trump's victory has sparked a Crypto investment frenzy, with $22 billion pouring into the market.

2024-11-19 03:04:44

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Source: Blockchain Knight

Last week, digital asset investment products saw an inflow of 22 billion US dollars. This reflects a broader market rise trend driven by Trump’s victory in the US presidential election.

In the past few days, the inflow of funds in the digital asset market reached a peak of $3 billion, bringing the total assets under management (AUM) to a historical high of $138 billion.

During this period, the record-breaking price performance of BTC prompted an outflow of approximately 8.66 billion US dollars, with a net inflow of 22 billion US dollars.

According to data from CoinShares, the total inflow of funds since the rate cut in September has reached $11.7 billion. So far this year, the total inflow of funds has reached $33.5 billion.

CoinShares research director James Butterfill explained, “The recent surge in activity seems to stem from two reasons: loose monetary policy and the Republican Party’s overwhelming victory in the recent US election.”

The dominance of BTC remains strong, with a inflow of funds reaching 14.8 billion US dollars.

The influx of large amounts of funds is related to the outstanding performance of the Spot trading funds (ETF) in the United States, and these products continue to attract great follow from retail investors and institutional traders.

According to CoinShares data, BlackRock’s IBIT and Fidelity’s FBTC saw inflows of $2.1 billion and $4 million, respectively.

On the other hand, the outflow of funds from the Ark 21 Shares fund was $153 million, exceeding the outflow of funds from Grayscale, which was $108 million this week.

Meanwhile, the record-breaking price of BTC breaking through the $90,000 mark has attracted bearish traders who have invested $49 million in shorting BTC products.

In addition, the bullish market sentiment seems to have also influenced people’s interest in Ethereum, which has attracted a large influx of $646 million (equivalent to 5% of its Assets Under Management).

Butterfill links this influx of funds to election results and proposed Beam Chain network upgrades.

The inflow of other assets including Solana, XRP, and Cardano is relatively small, at $24 million, $4.3 million, and $3.4 million, respectively.

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