Market
Crypto Investment Inflows Near $2 Billion Post US Elections
Crypto investment inflows soared to $1.98 billion in a post-election surge, as markets remain euphoric about Donald Trump’s victory. It marks a five-week streak of inflows, pushing year-to-date (YTD) totals to an unprecedented $31.3 billion.
The successive all-time highs in Bitcoin prices following the US presidential outcome have been a critical factor in this post-election investment boost.
Crypto Inflows Near $2 Billion After US Elections
The positive crypto investment flows point to increased investor confidence in digital assets as trading volume soared to $20 billion. Similarly, global assets under management (AuM) also achieved a new high, climbing to $116 billion.
Bitcoin led the post-election rally with nearly $1.8 billion in inflows. Bullish price movements supported this across key digital assets. For starters, Bitcoin reached its initial peak in the immediate aftermath of the US presidential elections. Donald Trump’s electoral victory, bringing a conservative economic stance back to the White House, appears to have further intensified Bitcoin’s appeal among risk-on investors.
“A combination of a bullish macro environment and seismic shifts in the US political system being the likely reason for such supportive investor sentiment,” CoinShares’ latest report read.
The broader sentiment shift reflects a renewed interest in assets outside traditional finance (TradFi). This is especially in response to inflation fears and interest rate cuts by the US Federal Reserve. Since September, the Federal Reserve has adopted a dovish approach, and Bitcoin has attracted more than $9 billion in inflows.
Market optimism over Trump’s economic policies has also sparked a risk-on shift. It amplified the demand for Bitcoin and other high-risk assets in the cryptocurrency space. Specifically, blockchain-related equities saw $61 million in inflows. This interest in blockchain equities, which represent shares in companies involved in the blockchain and cryptocurrency sectors, highlights investors’ appetite for a more diversified exposure to the growing crypto market.
With Trump’s return to office, many analysts expect his administration to be more accommodating to financial innovation. This would encourage further growth in blockchain-based financial services and products.
“DeFi will get better regulatory treatment — no more harassment and potentially even enabling things like fee switches or network-based dividends,” Pahueg, a popular voice on social media platform X, stated.
The post-election period has also seen notable inflows into Bitcoin ETFs (exchange-traded funds), adding momentum to the financial instrument’s overall growth. Spot Bitcoin ETFs, which provide direct exposure to BTC, experienced a record level of inflows. This is as investors increasingly seek regulated pathways to invest in the pioneer crypto.
Risk-on ETFs, which typically see growth in more adventurous market climates, have similarly benefited from the election results. The Trump victory has bolstered these funds, which aim to capitalize on higher returns in volatile environments. The influx of investment into these ETFs highlights the heightened risk tolerance among investors.
With mainstream investors gaining more access to the digital asset market, crypto ETFs have become a cornerstone of Bitcoin’s recent surge. The inflows suggest heightened confidence in Bitcoin’s long-term viability. The belief that BTC can perform as a store of value amidst economic uncertainty is also growing.
This post-election period, marked by a dramatic influx of capital, signals a potential inflection point for cryptocurrency markets. The return of a conservative administration, coupled with supportive macroeconomic policies, is fostering a risk-tolerant environment conducive to digital asset growth.
The record-breaking inflows into Bitcoin, Ethereum, altcoins, and related ETFs indicate that investors are increasingly willing to explore alternative assets that protect from traditional market uncertainties.
As of this writing, Bitcoin is trading for $82,376, having risen by almost 4% since the Monday session opened. As the king of crypto looks poised for more gains, positive US economic data this week could send BTC to unchartered territory.
“We anticipate a slightly higher CPI reading; however, we expect Bitcoin to remain resilient, given that the Fed is already moving toward rate cuts. Retail sales are likely to show strength, driven by Amazon’s recent sales event, signaling a robust economy that could further support crypto markets. Overall, macro data should point to stronger economic growth, which Bitcoin is likely to view favorably,” Markus Thielen, Founder & CEO at 10x Research, told BeInCrypto.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
ETF issuer WisdomTree’s European division just announced a new ETP based on XRP. This product is currently available in four EU countries, which has led XRP’s price to jump slightly.
ETPs are a common issuer strategy to earn revenue without ETF approval, but Europe will not necessarily approve one even if the US does so.
WisdomTree’s XRP ETP
WisdomTree, one of the Bitcoin ETF issuers in the US, announced that its European branch is offering an exchange-traded product (ETP) based on XRP. This new product is currently available in Germany, Switzerland, France, and the Netherlands. A growing number of issuers have filed for an XRP ETF, but WisdomTree is taking a slightly different tack.
“The WisdomTree Physical XRP ETP offers a simple, secure, and low-cost way to gain exposure to XRP, one of the largest cryptocurrencies by market capitalization. Backed 100% by XRP, XRPW is the lowest-priced XRP ETP in Europe, providing direct spot price exposure,” the announcement claimed.
The possibility of an official XRP ETF is growing with the current bull market, and Ripple CEO Brad Garlinghouse considers it “inevitable.” Still, it hasn’t happened yet, and ETP offerings allow issuers to somewhat address customers’ requirements. BitWise, which has also filed for an XRP ETF in the US, recently acquired a European ETP issuer to enter the same market.
WisdomTree, however, is no stranger to this market strategy. In May this year, it won approval to offer ETPs based on Bitcoin and Ethereum to British investors.
The UK has not yet approved a full ETF for either of these assets, but WisdomTree still gained market access. Even a fraction of the XRP market could also prove lucrative; the asset’s value spiked today.
WisdomTree Europe’s strategy page does not describe any further actions upon full approval. Even if the US approves an XRP ETF under the SEC’s new leadership, that won’t necessarily benefit WisdomTree’s European branch. For now, these ETPs built on XRP will have to suffice for this market.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
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