Crypto Investment Products See Record Inflows of $29 Billion in 2021: CoinShares
(Translated by AI)
Global crypto funds have recorded net inflows of $2.18 billion last week, bringing the year-to-date figures to a record $29.2 billion, according to CoinShares. The inflows were likely driven by the prospect of a Republican victory in the U.S. elections. Total assets under management at the funds have surpassed $100 billion, and weekly trading volumes have surged 67% to $19.2 billion. Bitcoin's price has risen over 30% since September but has fallen around 7% amid recent convergence in election odds. Analysts expect bitcoin to reach all-time highs if Trump wins, but drop to $50,000 if Harris wins. U.S.-based funds dominated net inflows, while Ethereum-based investment products saw modest inflows.