Source: Cryptographic Yao

Against the backdrop of a broader market recovery, Bitcoin [BTC] ETF has been gaining continuous attention recently, with significant inflows of funds, indicating a positive market trend.

Bitcoin ETF Update

According to Farside Investors, on October 15th, the total inflow of Bitcoin ETF reached 0.371 billion US dollars.

Leading the way is Blackrock's IBIT, with an inflow amount of 0.2888 billion US dollars, followed by Fidelity's FBTC, with an inflow amount of 35 million US dollars. In addition, ARK Invest's ARK ETF saw an inflow amount of 14.7 million US dollars, while Grayscale's GBTC had an inflow amount of 13.4 million US dollars.

Although some ETFs did not experience inflows, there were also no outflows. This can be attributed to the increasing interest of people in investment tools based on Bitcoin.

In fact, just a day ago, Bitcoin ETF set a new record for the highest single-day net inflow since June – reaching a total value of 0.5559 billion US dollars.

Leading this trend is FBTC, with an inflow of $0.2393 billion, the highest level since June 4. In addition, GBTC also regained attention, with an inflow of $37.8 million, the highest level since May, and marking the first positive inflow in October.

At the same time, the trading price of Bitcoin on the chart is $67,823.08, up 3.56% in 24 hours and 9.44% in 7 days. As expected, this has sparked speculation that cryptocurrencies may be preparing to reach new all-time highs.

CoinShares associates this with the election - but why?

Interestingly, CoinShares' latest report also highlights a significant increase in digital asset inflows, totaling $0.407 billion - attributed to growing investor interest and the potential victory of the Republican Party.

Recent capital waves indicate a growing interest in cryptocurrencies, driven by expectations of favorable regulatory changes for the industry under a Republican-led government.

The report points out,

"Digital asset investment product inflows reached $0.407 billion, as investors' decisions may be more influenced by the upcoming U.S. election rather than monetary policy outlooks."

The company supports its analysis, indicating that recent fund inflows are closely related to political developments rather than economic indicators.

It is worth noting that stronger-than-expected economic data has almost had no effect on preventing the previous capital outflows.

In fact, according to CoinShares' data, the increase in inflows is the result of the recent U.S. vice presidential debate. Subsequently, the momentum of opinion polls shifted towards the Republican party, which is considered more supportive of digital asset initiatives.

Executives have expressed their opinions...

ETF Store President Nate Geraci supports this view, emphasizing that the outcome of the U.S. election could have a significant impact on the future of the digital asset industry.

He said:

"46% agree that cryptocurrencies and blockchain are the future of finance. 34% say they would consider a candidate's cryptocurrency stance before voting."

Geraci added,

"Becoming a mainstream issue."

Here, Geraci emphasizes insights from a recent survey conducted by Grayscale, which explores the interaction between cryptos and the upcoming elections.

With Trump gaining increasing support as the Republican candidate on Polymarket, the final stages are expected to bring crucial developments to this industry.