Just over a week left until the US presidential election. Bitcoin Investors remain bullish.
After continuing, break the record,new Bitcoin Exchange Traded Fund (ETF) Nearly $1 billion flowed into the fund last week, giving investors the largest exposure to cryptocurrencies, data from European asset manager CoinShares showed on Monday.
With former US President Donald Trump leading current Vice President Kamala Harris in some polls, and a commanding lead on cryptocurrency prediction market platform Polymarket, the company is not talking about the election. Pointed out. Former President Trump is said clearly If he wins, it will help the digital asset industry.
A report from CoinShares on Monday said: “Current Bitcoin prices and flows are heavily influenced by US politics, and the recent surge in Bitcoin inflows may be related to the Republican Party's rise in the polls. “It's expensive.” said.
Of all the inflow data tracked by CoinShares (which also includes figures from ETFs in Europe and Asia), Bitcoin continued to be the main focus last week. Investors convert their funds into cash, Solana and Ethereum CoinShares noted that Bitcoin funds have surged in the last week.
In total, speculators poured $920 million into Bitcoin funds around the world. Most of that came from new funds trading on U.S. stock exchanges. Funds intended for shorting Bitcoin or betting that Bitcoin's price will fall in the future were also leaked.
Bitcoin is currently trading at $68,759 per coin after reaching a high of $69,217 per coin earlier today. According to To CoinGecko. This is a one-week high for major cryptocurrencies.
The Securities and Exchange Commission gave the green light in January for 10 Bitcoin ETFs to begin trading in the United States, and these products have been hugely popular, with total inflows of more than $20 billion so far this year. BlackRock's fund had the largest launch of any new ETF over the past four years, according to Bloomberg data.
editor andrew hayward
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