Digital asset investment products see $408 million inflows...US election impact over policy outlook

Demand for investment products increased last week, with analysis suggesting this was more likely influenced by the upcoming US elections than by the outlook for monetary policy.
On the 14th (local time), CoinShares released its weekly digital asset fund flow report.
The report revealed that $407 million (approximately 70.3 billion yen) flowed into digital asset investment products from October 5 to 11.
The inflow of new cryptocurrencies comes on the back of stronger-than-expected economic data released in the United States last week.
The move comes after a smaller sell-off of $127 million as investors slammed the cryptocurrency, which was bought by a 10-year-old cryptocurrency called Ethereum.
Butterfill said last week's increase in crypto investment products was likely influenced by the upcoming US elections rather than the outlook for monetary policy.
"This trend is also evident from the fact that stronger than expected economic data had little impact in stemming capital outflows."
"Other factors, such as favorable polling results for Republicans, immediately led to inflows and price increases," he said, adding that Republicans are perceived as more favorably toward digital assets.
On the 10th of last month, major media outlets, including the New York Times, reported that polls showed that control of the U.S. Senate could shift from the Democrats to the Republicans after the November 5 election.
It was reported.