Digital asset inflows experienced a notable surge in the week ending Oct. 25, reaching $901 million, largely fueled by a spike in Bitcoin transactions and propelling year-to-date totals to $27 billion.
According to the CoinShares weekly flows report, Bitcoin (BTC) attracted $920 million during this period, a trend likely influenced by the upcoming elections in the United States. As noted in the report:
“We believe that current Bitcoin prices and flows are heavily influenced by US politics, with the recent surge in inflows likely linked to the Republicans’ poll gains.”
The country led the charts with $906 million in inflows, while Germany and Switzerland recorded gains of $14.7 million and $9.2 million, respectively. In contrast, Canada, Brazil, and Hong Kong experienced slight outflows of $10.1 million, $3.6 million, and $2.7 million, respectively.
CoinShares reports that short-Bitcoin positions posted minor outflows of $1.3 million during the past week.
Among issuers, BlackRock’s iShares Bitcoin Trust exchange-traded fund (ETF) still holds the top spot, with total assets under management of more than $28 billion. Combined, Bitcoin ETF issuers are managing assets worth $78.9 billion.
Flows by provider. Source: CoinShares
October’s bullish turn for digital assets
October has seen inflows account for 12% of total assets under management, marking it as the fourth largest month of capital flows on record. Total inflows in 2024 reached $27 billion — nearly three times higher than the previous record of $10.5 billion set in 2021.
According to CoinShares, the positive sentiment is also seen in blockchain equities, posting a third week of positive flows and closing Oct. 25 at $12.2 million in volume. Solana (SOL) funds saw the second largest inflows at $10.8 million.
The trend has not been reflected in Ethereum-based funds, which amassed the largest outflows among digital assets, closing with $35 million in withdrawals.
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