Cryptocurrency Fund Report: Post-Election Inflows Approach $2 Billion

Following the U.S. elections, cryptocurrency investment products recorded an influx of $1.98 billion, marking a fifth consecutive week of growth. This movement brought the total influx from the beginning of 2023 to a new record level of $31.3 billion. With last week’s price increases, managed global assets reached an all-time high of $116 billion. Trading volumes drew attention by hitting $20 billion, the highest level seen since April of this year.

The U.S. continues to guide the ETF market. According to CoinShares data, inflows into cryptocurrency funds were largely concentrated in the U.S., recording an influx of $1.95 billion. In Europe, Switzerland and Germany attracted noteworthy inflows of $23 million and $20 million, respectively. Notably, Bitcoin recorded a total influx of $9 billion following the U.S. Fed's interest rate cut in September, creating a positive sentiment among investors combined with supportive macroeconomic conditions.

Last week, there was also a significant development for Ethereum funds. Ethereum ETFs recorded the largest weekly inflow of $157 million since their launch in July. This development was interpreted as a significant improvement in investor sentiment towards Ethereum.

Inflows into altcoins and Blockchain stocks showed notable activity as well. Among leading altcoins, Solana saw an influx of $3.9 million, Uniswap $1 million, and Tron $0.5 million. These inflows indicate that altcoins are also being closely monitored by investors. Additionally, Blockchain stocks performed positively, attracting $61 million in inflows. In this context, the cryptocurrency markets continue to capture investor interest in the post-election period.

Bitcoin continues to set new records on the first day of the week.

Last week, Bitcoin made a remarkable jump of nearly 17%. The positive outlook for the cryptocurrency persists this week as well. On the first day of the week, BTC appreciated by over 2%, pushing its record level to $82,380. Following this recent record, the cryptocurrency has maintained its strength, remaining above $82,000 in afternoon trading. Bitcoin has nearly doubled its value since the beginning of the year following this recent surge.