Bitcoin ETF adds billions as Trump optimism grows: CoinShares

rise of Bitcoin Prices of other cryptocurrencies rose late last week as investors poured heavily into digital asset funds, according to full-week data released Monday.

These vehicles have seen their highest inflows since July, with a whopping $2.2 billion flowing into them over the past week, according to data from European asset management firm CoinShares.

CoinShares said most of the money came from U.S. investors seeking exposure to Bitcoin, with $2.13 billion worth of inflows last week.

That's because investors are increasingly bullish that former President Donald Trump will win next month's election, according to a report on Monday. Business tycoon and Republican candidate for the White House Much more pro-encryption On message than Democratic candidate Kamala Harris.

“We believe this new optimism stems from increased expectations that the Republican Party will win the next US election, as it is generally seen as more supportive of digital assets.” says the report.

Trump takes lead over Harris on popular crypto betting platform Polymarketleading 62% to 38%. On the other hand, traditional national opinion polls ABC/Ipsos A survey of likely voters released last week showed that Harris remains the favorite, but that Trump is closer than he was a few weeks ago.

new Bitcoin Exchange Traded Fund (ETF) The bill, approved in January, will give American investors easier access to regulated cryptocurrencies. The fund was a huge success; draw in More than $20 billion in just nine months.

Last week, BlackRock's iShares Bitcoin Trust brought in More than $1 billion in cash flowed in from investors seeking exposure to the largest digital coin by market capitalization, accounting for more than half of all inflows into these U.S. funds this week.

Investors held back on putting cash into ETFs earlier this fall because it was unclear how the Federal Reserve would respond to historically high interest rates. But the central bank I decided Last month's decision to cut interest rates has rekindled investors' appetite for “risk-on” assets like Bitcoin.

Coupled with President Trump's pledge to the cryptocurrency industry, his bullish stance on cryptocurrencies is becoming stronger. former president have brand yourself As a crypto-friendly candidate for next month's election, he told Bitcoiners that all future digital coins should be minted in the United States. launch His own decentralized finance (DeFi) project.

of bitcoin price After hitting a 24-hour high of $69,431 on Sunday, it is currently at $67,160, down 2% in the past 24 hours. It hit an all-time high of $73,737 in March, and Sunday's high was the closest it has returned to around that point since June.

editor andrew hayward