Crypto investors are apparently feeling more bullish: They threw $419 million at Bitcoin-related funds last week, marking a reversal from the previous week’s negative crypto fund flows. The reason, according to European asset manager CoinShares, is that they think a Republican in the White House now looks a bit more likely than before.
CoinShares said in a Monday report that investors are now more concerned with who the next president will be, rather than economic data. And with polls showing narrower odds between the two candidates, the firm believes that it’s having an impact on crypto ETF investments.
The Republican candidate for next month’s election, ex-President Donald Trump, has branded himself as the more crypto-friendly candidate. He told Bitcoiners he wants the asset to be produced solely in the U.S., he has a colorful history with NFT collectibles, and even is launching a DeFi project.
“This trend is evident in the fact that stronger-than-expected economic data had little impact on stemmi
Go to Source to See Full Article
Author: Mathew Di Salvo
