---
title: "Optimism for Republican Win Drives $2.2 Billion in Weekly Inflows into BTC, ETH Products"
url: https://diffcoin.com/optimism-for-republican-win-drives-2-2-billion-in-weekly-inflows-into-btc-eth-products/
description: "After 17 consecutive weeks of inflows, multi-asset products faced outflows of $5.3 million."
published: 2024-10-21
updated: 2024-10-21
author: "Mila"
site: "Diffcoin"
---

# Optimism for Republican Win Drives $2.2 Billion in Weekly Inflows into BTC, ETH Products

As the US presidential race becomes more intense with less than a month away until Election Day, data from last week suggests that digital asset inflows have surged to $2.2 billion.

This figure marked the highest level since July, spurred by optimism for a potential Republican success in the election.

## Inflows Surge Amid US Election Optimism

According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report, the trading volumes of investment products have surged by 30%, resulting in price appreciation, bringing total assets under management close to the $100 billion mark. The distribution of these inflows, however, varied greatly by region. The United States was a clear leader for the week, recording inflows of $2.3 billion.

The digital asset manager stated,

> “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.”

Australia also saw a modest inflow of $1.4 million and emerged as the only other country to experience a positive flow. On the other hand, almost all other nations recorded minor outflows, with Canada, Sweden, and Switzerland leading with $20 million, $18 million, and $15 million outflows, respectively.

Additionally, Brazil and Germany also experienced outflows of $9 million and $6 million, while Hong Kong had a minor outflow of $1.5 million during the same period.

## Bitcoin Leads While Multi-Asset Products Face Setback

Bitcoin led the market with inflows totaling $2.13 billion over the past week. The price increase also sparked interest in short-bitcoin products, which attracted $12 million. Interestingly, this was the largest inflow since March. Ethereum, too, benefited, recording $58 million in inflows.

Several altcoins followed suit, with Solana pulling in $2.4 million, Litecoin seeing $1.7 million, and XRP bringing in $700,000. Contrastingly, multi-asset products faced weekly outflows of $5.3 million, bringing an end to their impressive 17-week streak of continuous inflows.

Cardano and Binance also recorded outflows of $1.5 million and $0.8 million respectively.

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