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Crypto investments had their biggest week since July, bringing in $2.2 billion according to CoinShares. The US was the largest contributor, with investments reaching $2.3 billion in a week. Bitcoin led with $2.13 billion, largely due to BlackRock’s iShares Bitcoin ETF. Ether investments rose by $58 million, while multi-asset crypto experienced outflows. The total crypto investments for October hit $2.4 billion, maintaining the typical “Uptober” trend.

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Crypto investments are booming right now and they’ve just had the biggest week since July, pulling in a whopping $2.2 billion, says CoinShares, a big player in the crypto space. The optimism is high partly due to the chance of a Republican win in the U.S. elections, as they are considered more supportive of cryptocurrencies.

The U.S. was where most of the action happened, with crypto investments reaching $2.3 billion in just one week. Canada and Sweden saw some outflows as investors cashed in on the bullish market, while Australia also posted positive inflows.

Bitcoin stole the show once again, with investments pouring in to the tune of $2.13 billion. This was mainly driven by BlackRock’s iShares Bitcoin ETF in the U.S. which pulled in $1.19 billion. Ether-based crypto investments also rose by $58 million, while multi-asset crypto saw outflows after 17 consecutive weeks of inflows.

The surge brings the total crypto investments for October to $2.4 billion, keeping up with the usual “Uptober” trend often seen in the crypto world.

Source: Cointelegraph