Key Points
- Crypto investment products saw inflows of $901 million in October, marking the fourth-largest inflow on record.
- Bitcoin (BTC) led the surge with inflows of $920 million, while Ethereum (ETH) saw the largest outflows among digital assets.
Crypto investment products experienced a substantial inflow of $901 million in October.
This figure represents the fourth highest monthly inflow ever recorded, contributing to 12% of total assets under management.
Record Inflows and Influences
Year-to-date inflows now stand at $27 billion, almost tripling the previous record of $10.5 billion established in 2021.
James Butterfill, head of research at CoinShares, suggests that the current Bitcoin prices and flows are significantly influenced by U.S. politics, with the recent inflow surge likely tied to the Republicans’ poll gains.
Bitcoin dominated the inflow, pulling in $920 million.
Regional Performance and Asset Trends
The United States was at the forefront of the inflow surge, bringing in $906 million.
Other regions showed varied results. Germany and Switzerland recorded inflows of $14.7 million and $9.2 million, respectively, while Canada, Brazil, and Hong Kong saw modest outflows.
Despite the positive sentiment around Bitcoin, Ethereum recorded the largest outflows among digital assets last week at $35 million.
In contrast, Solana (SOL) attracted inflows of $10.8 million, and blockchain equities showed signs of recovery with inflows of $12.2 million.
Data reveals a sharp decrease in activity among Bitcoin whales, suggesting that large holders may be feeling uncertain as the U.S. Election Day approaches.