Investment in cryptocurrency products experienced nearly $2 billion in inflows after the US election, bringing the year-to-date inflows to a record $31.3 billion, according to data from CoinShares. The US had the highest regional interest with $1.95 billion, followed by Switzerland and Germany. Bitcoin led the inflows, attracting $1.8 billion, while Ethereum saw $157 million in inflows. Alternative coins also saw gains. CoinShares head of research attributed the surge in investor sentiment to a supportive macro environment and shifts in the US political system. The positive momentum has led analysts to anticipate increased activity and cash infusion in cryptocurrency-focused exchange-traded funds. Additionally, Gemini's co-founder expects Bitcoin's rally to reach $100,000.
- Content Editor ( crypto.news )
- 2024-11-11
CoinShares: Crypto products hit record YTD inflows of $31.3b