tl;dr
The report from CoinShares states that assets under management for crypto investment vehicles have reached a new all-time high of $138 billion. Last week, $2.2 billion was invested in such funds, bringing year-to-date inflows to a record $33.5 billion. Bitcoin and Ethereum saw significant inflows of...
Crypto investment vehicle assets have reached an all-time high of $138 billion, with $2.2 billion inflows last week. This surge is attributed to looser monetary policy and the recent U.S. elections, with Bitcoin and Ethereum seeing significant inflows. The majority of the investment was focused on U.S.-listed spot ETFs, following the approval of 11 new spot Bitcoin ETFs by the SEC in January.
The surge in Bitcoin's price to over $93,000, partly driven by American ETFs, coincided with Donald Trump's White House win. Additionally, enthusiasm around Ethereum surged, with $646 million invested in products providing exposure to the coin. The report also highlights a significant increase in money flowing into the crypto space since the Republican presidential victory on November 8.
CoinShares tracks funds globally that provide exposure to digital coins and tokens, including Bitcoin, Ethereum, and other exchange-traded funds (ETFs) in Europe and Asia. The recent surge in activity appears to be driven by looser monetary policy and the Republican party’s success in the recent U.S. elections. Most of the money was focused on U.S.-listed spot ETFs, giving sophisticated and retail investors exposure to Bitcoin.
The surge in Bitcoin's price to over $93,000, partly driven by American ETFs, coincided with Donald Trump's White House win. Additionally, enthusiasm around Ethereum surged, with $646 million invested in products providing exposure to the coin.
Since the Republican presidential victory on November 8, money has flowed into the crypto space. President-elect Trump has promised to help the digital asset industry, making various pledges on the campaign trail.
Source: CoinShares Twitter: https://t.co/W1BDGvhJ3B