Digital Asset Investments Surge Amid US Election Influences

According to PANews, the latest weekly report from CoinShares reveals that digital asset investment products saw an inflow of $407 million last week. This surge is attributed to investor decisions being influenced more by the upcoming US election rather than monetary policy outlooks. The trend is evident as stronger-than-expected economic data did little to prevent outflows, while the recent US vice-presidential debate and subsequent polls shifting towards the Republican Party, which is perceived as more supportive of digital assets, led to immediate inflows and price increases. As anticipated, the political nature of the recent inflows resulted in the US accounting for $406 million of the total inflows. Canada also saw significant inflows, amounting to $4.8 million. Bitcoin emerged as the primary beneficiary of these political changes, with total inflows reaching $419 million. In contrast, short-term Bitcoin investment products experienced outflows of $6.3 million.