BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

Bitcoin Leads $407 Million Inflows as US Election Approaches

by Matoy
October 14, 2024
in BREAKING NEWS, CRYPTO
Reading Time: 2 mins read
A A
1
SHARES
13
VIEWS
Share on XShare in TelegramShare on Reddit
  • Crypto investment products gained $407 million in inflows from Oct. 5–11, led by Bitcoin.
  • Political factors, including the US election and Republican polling gains, contributed to the increased inflows.
  • Bitcoin’s price rose over 2% during the same period, with blockchain ETFs seeing strong demand.

The week of October 5 to 11 saw a significant rise in cryptocurrency investment products, with total inflows reaching $407 million, according to a report released by CoinShares on October 14. Bitcoin led the surge, accounting for $419 million of the inflows, marking a positive shift after a brief sell-off the previous week.

Political Landscape Fuels Bitcoin Inflows

According to James Butterfill, CoinShares’ head of research, the increasing inflows were influenced more by political factors than economic developments. He pointed to the upcoming US elections, where polls indicate that Republicans may take control of the Senate. Butterfill suggested that the potential shift toward Republican leadership, often seen as more supportive of digital assets, contributed to the surge in investment interest.

Major media outlets, such as The New York Times, reported on October 10 that polling data showed Republicans ahead in key races. This political shift appears to have boosted confidence in the digital asset market, particularly in Bitcoin, which was described as the “primary beneficiary” of these developments.

Bitcoin and Blockchain ETFs See Increased Demand

Bitcoin’s price saw a 2% increase during the same period, rising from $61,900 on October 6 to approximately $63,300 by October 12. Blockchain equity exchange-traded funds (ETFs) also experienced one of their strongest weeks of 2024, attracting $34 million in inflows.

Meanwhile, multi-asset investment products continued to see minor but steady inflows, marking 17 consecutive weeks of gains for that asset class. Ethereum, however, did not share in the positive momentum, with $9.8 million in outflows recorded for Ether products during the same week.

The latest figures continue a broader trend that started in mid-September, with nearly $2 billion flowing into crypto investment products between September 7 and September 28.

Tags: Bitcoin
TweetShareShare
Previous Post

Bitcoin Surpasses $65,000 as Analysts See Potential for Further Gains

Next Post

Kamala Harris Reveals Plans for Upcoming Crypto Framework

DON'T MISS THESE! HOT OFF THE PRESS

Here’s Why Dogecoin’s Jumping Again Today
CRYPTO

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?
CRYPTO

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth
CRYPTO

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance
CRYPTO

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing
CRYPTO

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself
CRYPTO

Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

July 18, 2025
Load More

Related News

Here’s Why Dogecoin’s Jumping Again Today

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin US Web3 X xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.