Bitcoin tops $407 million crypto inflows amid election-driven dynamics
Crypto-related investment products saw inflows of around $407 million, according to CoinShares’ latest weekly report.
CoinShares head of research James Butterfill said the strong inflows are likely driven more by political developments, particularly the upcoming US elections, rather than changes in monetary policy.
According to Butterfill:
“This trend is evident in the fact that stronger-than-expected economic data had little impact on stemming outflows, whereas the recent US vice presidential debate and a subsequent shift in polling towards the Republicans, perceived as more supportive of digital assets, led to an immediate boost in inflows and prices.”
According to the decentralized predictions platform Polymarket, former…
