901 million USD flowed into Crypto funds last week as Donald Trump's chances soared!
Today (28/10), the data analysis company CoinShares released a detailed report on the capital inflows into Crypto funds last week (21/10 - 27/10).
1. Statistics on capital inflows into Crypto funds last week (21/10 - 27/10)
According to CoinShares, digital asset investment products saw a net inflow of 901 million USD last week (21/10 - 27/10) - bringing the total inflow in the last 3 weeks to nearly 3.5 billion USD.
October also saw the fourth largest inflow into Crypto funds in history. The total inflow for 2024 currently stands at around 27 billion USD - nearly 3 times the previous record of 10.5 billion USD in 2021.
James Butterfill (head of research at CoinShares) explains that the reason Crypto funds have recorded positive inflows in recent weeks is due to increasing expectations of Donald Trump winning the US election.
According to data from the prediction market platform Polymarket, Trump's winning odds are at 66.3% - far surpassing Ms. Harris with just 33.4%. According to Butterfill, Trump's victory could bring many favorable legal policies for the Crypto market as he has previously expressed strong support for BTC at the Bitcoin 2024 conference.
By region, the United States continued to 'dominate' inflows with 906 million USD last week. Additionally, Germany and Switzerland also recorded positive inflows of 14.7 million USD and 9.2 million USD, respectively.
In the opposite direction, some other countries witnessed strong net withdrawals, notably Sweden (-12.7 million USD), Canada (-10.1 million USD), and Brazil (-3.6 million USD).
2. Which Altcoins did Crypto fund inflows focus on last week (21/10 - 27/10)?
Bitcoin investment funds led the inflows last week with 920 million USD, bringing the total inflow since the beginning of the year to nearly 25.5 billion USD.
In the opposite direction, short Bitcoin funds saw a net withdrawal of 1.3 million USD amid impressive support for BTC (Bitcoin) at the 65,000 USD support level.
Ethereum investment funds experienced a negative inflow of 34.7 million USD last week, contrasting with 10.8 million USD flowing into Solana funds. Last week also saw the SOL/ETH exchange rate reach an all-time high as the Solana ecosystem surged back thanks to the AI Memecoin craze.
Other Altcoin funds recorded small inflows, including: XRP (0.2 million USD), LTC (1.8 million USD),…
