Crypto investment products experienced substantial inflows of $901 million this month, marking the fourth-largest inflow on record, according to data from CoinShares. This significant increase accounts for 12% of the total assets under management. Year-to-date inflows now total $27 billion, nearly tripling the previous record of $10.5 billion set in 2021.

Influence of U.S. Politics on Bitcoin

James Butterfill, head of research at CoinShares, notes that current Bitcoin prices and flows are “heavily influenced by U.S. politics, with the recent surge in inflows likely linked to the Republicans poll gains.”

“The focus was almost entirely on Bitcoin, which saw inflows of $920 million.”

Regional Inflows and Outflows

The United States led the inflow surge, attracting $906 million. Other regions displayed a mixed performance: Germany and Switzerland saw inflows of $14.7 million and $9.2 million, respectively. In contrast, Canada, Brazil, and Hong Kong experienced modest outflows of $10.1 million, $3.6 million, and $2.7 million.

Mixed Sentiment Across Cryptocurrencies

While Bitcoin enjoyed positive sentiment, Ethereum recorded the largest outflows among digital assets last week, totaling $35 million. On the other hand, Solana garnered attention with inflows of $10.8 million. Blockchain equities also showed signs of recovery, with inflows reaching $12.2 million last week, marking the third consecutive week of positive momentum in this sector, according to CoinShares data.

Decreased Activity Among Bitcoin Whales

Activity among Bitcoin whales has sharply decreased. Data from IntoTheBlock reveals that net inflows for large holders dropped from approximately 38,800 BTC on October 20 to just 258 BTC on October 26. This suggests that whales are feeling jittery as the U.S. Election Day approaches.

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