CoinShares, a digital assets manager, has reported that institutional investors invested nearly $1 billion into cryptocurrency products last week. According to CoinShares’ latest report on digital asset fund flows, institutional investment products experienced a significant increase in inflows, totaling $901 million. This amount represents 12% of the total assets under management for the month and makes it the fourth-largest month of inflows on record. In total, the inflows for this year have reached $27 billion, almost triple the previous record set in 2021, with inflows of $10.5 billion.

CoinShares suggests that the rise in inflows can be attributed to political excitement in the United States. They have observed a clear correlation between inflows and the Republican Party’s favorability in polls. The United States led the inflows regionally with $906 million, while Germany and Switzerland also experienced inflows of $14.7 million and $9.2 million, respectively. On the other hand, Canada, Brazil, and Hong Kong saw outflows of $10.1 million, $3.6 million, and $2.7 million, respectively.

As usual, Bitcoin (BTC) products received the majority of the inflows, amounting to $920 million. However, there were outflows of $35 million and $10.8 million for Ethereum (ETH) and Solana (SOL) products, respectively.

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