Inflows into cryptocurrency investment funds from October 13 to 19 reached a peak of $2.2 billion, the highest since July, compared to $407 million the previous week. These figures were reported by CoinShares.
Analysts attributed the strengthening positive trend to increased expectations of a Republican victory in the upcoming US elections, along with the market’s perception of their greater favorability towards digital assets.
The assets under management of crypto funds rose to $99.2 billion.
Bitcoin instruments saw inflows of $2.13 billion, up from $419 million the previous week.
Investors directed a peak of $12.3 million, the highest since March, into structures allowing short positions on digital gold, after withdrawing $6.3 million in the previous reporting period.
The negative streak in Ethereum funds was broken, with inflows of $57.5 million following an outflow of $9.8 million the week before.
Clients added $2.4 million, $1.7 million, and $0.7 million to instruments based on Solana, Litecoin, and XRP, respectively.
Products based on altcoins saw withdrawals of $5.3 million, ending a positive streak after 17 weeks.
Open interest in Bitcoin futures has reached a record $40.6 billion.
