Crypto investment inflows surged to $2.2 billion last week, the highest since July 2023. Experts ascribe this growth to mounting optimism over a potential Republican win in the upcoming US elections.<\/strong><\/p>\n This shift in political expectations has boosted both investor confidence and market prices.<\/p>\n After recording $407 million in positive flows<\/a> for the week ending October 11, digital asset investment inflows reached 2.2 billion last week. This represents a five times growth week-over-week, with Bitcoin seeing the largest inflows at $2.13 billion.<\/p>\n Positive flows into Ethereum reached $57.5 million. Meanwhile, multi-asset inflows interrupted their 17 consecutive week inflow streak to record $5.3 million in outflows. <\/p>\n Like the week before, CoinShares analysts ascribe the growing interest to the upcoming US elections, given that the US led the charge with inflows totaling $2.3 billion.<\/p>\n \u201cWe 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,\u201d a paragraph in the report read<\/a>.<\/p>\n<\/blockquote>\n Read more: How Can Blockchain Be Used for Voting in 2024?<\/a><\/strong><\/p>\n According to CoinShares researchers, this highlights a growing interest in crypto investments within the country. It comes as the US election countdown continues, with only 15 days left. According to Polymarket, pro-crypto candidate Donald Trump is in the lead with a 22.9 percentage point difference against Kamala Harris. <\/p>\n With the Republican candidate generally perceived as being supportive of the cryptocurrency sector, the general sentiment is a potential Donald Trump victory could lead to more crypto-friendly regulations.<\/p>\n As BeInCrypto reported, the Republican presidential aspirant has plans to overhaul US crypto rules beyond Gary Gensler<\/a>. This would fuel market growth further amidst beliefs that the party may introduce policies beneficial to the cryptocurrency industry<\/a>.<\/p>\n As the countdown continues, investor interest in crypto is also growing. The report indicated a 30% increase in trading volumes in digital asset investment products last week. The uptick in trading activity, combined with rising asset prices<\/a>, has brought total assets under management (AUM) in the digital asset space to nearly $100 billion.<\/p>\n If the current momentum continues, the market could soon cross this milestone. Crypto investment inflows could also increase this week compared to last week.<\/p>\n \u201cA positive regulatory environment could open the floodgates for institutional investment. If the US sees a leadership shift that\u2019s supportive of crypto innovation, it could lead to clear guidelines for crypto businesses, a potential green light for ETFs, and institutional confidence, leading to a wave of new capital into crypto markets,\u201d an analyst wrote<\/a> on X (formerly Twitter).<\/p>\n<\/blockquote>\n Read more: How To Buy Bitcoin (BTC) and Everything You Need To Know<\/a><\/strong><\/p>\n Meanwhile, BeInCrypto data shows<\/a> Bitcoin is eying the $70,000 psychological level, trading for $68,210 as of this writing.<\/p>\n Disclaimer<\/p>\n In adherence to the Trust Project<\/a> guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our\u00a0Terms and Conditions<\/a>,\u00a0Privacy Policy<\/a>, and\u00a0Disclaimers<\/a>\u00a0have been updated.<\/p>\n<\/div><\/div>\nCrypto Inflows at Multi-Month Highs Amid US Election Buzz<\/strong><\/h2>\n
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