Hold onto your hats, crypto enthusiasts! The digital asset world is buzzing with excitement as favorable macro conditions and a shake-up in US politics have set the stage for a massive influx of funds into digital assets. After the US election, investors poured a whopping $1.98 billion into digital asset investment products, marking the fifth straight week of positive vibes and bringing the year-to-date total to a record-breaking $31.3 billion.
Globally, assets under management reached an all-time high of $116 billion, riding the wave of recent price hikes. Trading volumes skyrocketed by $20 billion, reaching the highest level since April. While it’s not a new record, it's still impressive! According to the latest scoop from CoinShares’ Digital Asset Fund Flows Weekly Report, Bitcoin was the shining star with $1.8 billion in inflows, pushing its total to $9 billion since the Fed's interest rate cut in September.
The positive macro environment, coupled with major shifts in the US political arena, seems to have ignited a fire in investor sentiment. Ethereum also enjoyed some love, with $157 million in inflows last week, marking its biggest haul since the Ether ETF boom in July. Multi-asset products weren’t left behind either, raking in $23.4 million in inflows.
Other altcoins joined the party too, with Solana leading the charge at $3.9 million, followed by Uniswap at $1 million. XRP and Tron each attracted $0.5 million, while Litecoin and Cardano saw smaller but notable inflows of $0.2 million and $0.1 million, respectively. Even blockchain equities got a slice of the action with $61 million in inflows.
However, not everyone was riding the wave. Short-Bitcoin products saw outflows of $2.7 million, suggesting some investors were playing it safe or betting on further Bitcoin price jumps.
The US was the regional star, drawing in $1.95 billion, with Europe’s Switzerland and Germany following with $23 million and $20 million, respectively. But it wasn’t all rosy in Europe, as Sweden faced outflows of $25.7 million.
Down under, Australia and Brazil attracted $6 million and $3.7 million, respectively, while Canada and Hong Kong saw modest outflows of $1.7 million and $0.8 million. The crypto world is on the move, and it’s a thrilling ride to watch!
