Bitcoin has seen a surge in inflows as Republicans are expected to win the next election. $2.2 billion was invested in Bitcoin last week, pushing year-to-date inflows to $29.2 billion. This has led to assets under management surpassing $100 billion for the first time since June 2024. Trading volume also increased by 67%, totaling $19.2 billion, and representing 35% of all bitcoin trading on reliable exchanges.
Bitcoin has reacted positively to the possibility of a Republican victory, with many traders betting on Donald Trump’s chances of securing a second term. This excitement has led to a record $2.2 billion inflows in the US, marking the highest weekly inflows since early June 2024. Other cryptocurrencies, such as Ethereum, Solana, Polkadot, and Arbitrum, also saw an increase in investments.
However, multi-asset products, Litecoin, and XRP experienced outflows, indicating a shift in sentiment across the cryptocurrency market.
