Editor's PiCK
Expectations Rise for Trump's Inauguration…$2.2 Billion Flows into Crypto ETPs
Summary
- It was reported that $2.2 billion flowed into cryptocurrency exchange-traded products (ETPs).
- The anticipation of Donald Trump's inauguration is stimulating cryptocurrency investment.
- The most significant inflow of $1.9 billion was reported in Bitcoin-related products.
Ahead of the inauguration of U.S. President-elect Donald Trump, a massive influx of funds has been observed in cryptocurrency exchange-traded products (ETPs) last week.
According to CoinShares' 'Weekly Digital Asset Fund Flows' report on the 20th (local time), $2.2 billion, the largest amount this year, flowed into digital asset investment products.
James Butterfill, Head of Research at CoinShares, explained, "An enormous amount of funds have flowed into digital asset products due to the anticipation surrounding the inauguration of U.S. President-elect Donald Trump."
The market with the most significant inflow was undoubtedly the Bitcoin-related product market, with a staggering $1.9 billion flowing in. Ethereum (ETH) related products recorded an inflow of $246 million, followed by Ripple (XRP) with $30.8 million, trailing behind Bitcoin and Ethereum.
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