CoinShares: Digital asset investment products saw a net inflow of $407 million last week, possibly due to the US election

Digital asset investment products saw $407 million in inflows last week, according to CoinShares’ latest weekly report, as investors’ decisions may be influenced more by the upcoming U.S. election than the outlook for monetary policy. The trend is evident as stronger-than-expected economic data did little to stem outflows, while the recent U.S. Vice Presidential debate and subsequent polls swinging toward Republicans, who are seen as more supportive of digital assets, led to inflows and immediate price increases . As expected, perhaps due to the political nature of the recent inflows, the United States saw $406 million in inflows, while the other country with significant inflows was Canada with $4.8 million. Bitcoin inflows totaled $419 million, making it the main beneficiary of recent political changes. This compares to $6.3 million in outflows from short-term Bitcoin investment products.