$2.2 billion flows into cryptocurrency products in one week on optimism over U.S. presidential election

Analysts say digital investment products are maintaining a positive trend amid growing optimism that the Republican Party will win the US presidential election.
On the 21st (local time), CoinShares released its weekly digital asset fund flow report.
On Wednesday, the exchange announced that cryptocurrency investment products recorded their largest inflow since July, reaching $2.2 billion (approximately 331.868 billion yen) in the week.
Also, the United States and Bitcoin led the main drivers of cryptocurrency investment products last week, due to the Republican Party's victory in the US presidential election.
James, head of research at Coinshares, said this was the result of growing optimism that the cryptocurrency would benefit.
"This new optimism is fuelled by the prospect of a Republican victory in the upcoming US presidential election," Butterfill said.
"I think this comes from the growing expectation that digital assets will be more widely used and the Republican Party is generally perceived as being more supportive of digital assets."
The United States led the surge in cryptocurrency investments, recording $2.3 billion in inflows in the week from October 12 to 18.
Canada and Sweden showed outflows of $19.9 million and $18.2 million, respectively.
Australia was the only country outside the US to report positive investments, recording $1.4 million in inflows.
According to CoinShares, the small outflows in places like Canada are due to profit realization amid a U.S.-led bull market cryptocurrency market.
There is a high possibility that this is the case.