CoinShares, a digital asset manager, reported that last week crypto products saw a major inflow from institutional investors of up to $2.2 billion.

The latest U.S. Election, on Nov. 5, still stimulated the weekly cryptocurrency inflow up to $2.2 billion. The number increased 15% from the previous week by about $1.98 billion.

According to CoinShares’s release, on Nov. 18, digital asset inflows recorded $33.5 billion year-to-date and hit a new peak of under-asset management (AUM) up to $138 billion.

Bitcoin (BTC) saw the largest inflow based on assets last week of around $1.48 billion or equal to 67%. Followed by Ethereum (ETH) and Solana (SOL) with inflows $646 million and $23.9 million respectively.

The Beam Chain network upgrade proposal by Justin Drake has increased Ethereum’s inflow from $157 million. Only multi-asset and Binance Coin (BNB) record a week’s outflow.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) recorded the highest surge in crypto product from last week’s inflow up to 63% or up to $2.1 billion. While the rest of the funding recorded an outflow ranging from $8 million to $153 million, including Grayscale and Fidelity.

Crypto product driving factor: U.S. Election

James Butterfill, CoinShares head of research, says a combination of looser monetary policy and a Republican winning a majority of the Congress and Presidency appears to be a driving factor of these inflows.

Donald Trump winning the White House’s second term still brings a positive rally for the cryptocurrency industry, as well as the crypto product. Buterfill has mentioned that Trump’s presidency would bring crypto-friendly regulations and fiscal policy.

Earlier, Trump picked several names for secretary on his cabinet who identified as pro-crypto personalities including Elon Musk, Tom Emmer, and Robert F. Kennedy Jr.

Bitcoin Act, who were proposed by Republican Senator Cynthia Lummis, and the Bitcoin Strategic Reserve also boosts the crypto investor’s confidence. He also mentioned this favorable outlook may bring the best potential of Bitcoin in the future.

“The next four years may witness an unprecedented level of institutional support, increased government interest, and broader public adoption, setting the stage for Bitcoin to further solidify its place in the global financial landscape,” Buterfill mentioned in the other report.

Trump’s plan for the U.S. Department of Government Efficiency (DOGE) is to reduce federal government spending and cut some unnecessary regulations. This idea is now being supported by Coinbase CEO Brian Armstrong.

According to Brian Armstrong, CEO of Coinbase, the idea of creating a new Department of Government Efficiency (DOGE) is a lifetime opportunity. He mentioned on X post Nov. 17, that the agency could increase economic freedom in the U.S. and cut the size of government back to health.

Armstrong noted that government spending could be scrapped by only 10% of the gross domestic product (GDP). While the U.S. government used federal spending more than doubled in the past few years. Therefore, he suggests that the constitution needs to be amended.

He mentions that the unbalanced federal budget makes the congress members who vote for it have no right to the next term election. For that reason, the government needs to have the right incentives to control the budget in the long term.

Armstrong also explored the idea of a U.S. sovereign wealth fund, where every citizen could contribute to the funding and they would have a share. The budget surplus from the fund could be used as a dividend.

Donald Trump’s Vision of DOGE

Earlier last week, on Nov. 13, U.S. President-elect Donald Trump officially announced Elon Musk as the leader of a newly created agency, the Department of Government Efficiency (DOGE).

This brand-new agency was inspired by Dogecoin and Musk will be accompanied by American entrepreneur and Republican Vivek Ramaswamy.

Musk and Ramaswamy were expected to cut wasteful expenditures, restructure federal agencies, and cut unnecessary regulations. Trump mentioned that this agency would bring a shockwave to the system, but potentially would become “The Manhattan Project” of our time.

Since Trump won the election and announced the new agency, Dogecoin has seen a significant increase of 163% in the past month and a rise in the price from $0.13 to $0.36. The Dogecoin has already been projected to hit $1 in the future.

SpaceX crypto copycat tokens, not affiliated with the company, have soared past 5824% after SpaceX’s successful Starship test launch on Sunday.

On Oct. 14, prices for cryptocurrency tokens SpaceX and StarShip, have been taking off in the wake of SpaceX‘s newest megarocket Starship launch, passing its test flight last Sunday.

Although these tokens are not affiliated with Elon Musk‘s space technology company, the launch of the enormous rocket that made headlines was enough to boost the prices of these copycat tokens on different platforms.

According to data on CoinMarketCap, the PancakeSwap-powered token SPACEX saw its price skyrocket by 5824% in the past 24 hours of trading. SPACEX’s market cap currently stands at $80,800 and is selling at $0.012192 at the time of writing.

Meanwhile another token with the same name, the Solana(SOL)-powered SpaceX, soared 216% in the last 24 hours, according to CoinMarketCap. At the time of writing, the token has since plummeted to 84.56%. Despite this drop, it has maintained a market cap of $16,400.

An NFT-game token that bears the same name as SpaceX’s newly launched megarocket, StarShip, also saw a brief blast-off in its price by 0,9% after the launch according to on CoinGecko. StarShip’s price now stands at $0.0215 with a market cap of $404,251.

Another token dedicated to the spaceship was also created on the Ethereum(ETH) blockchain according to CoinMarketCap, but the platforms have yet to track the token’s price fluctuations.

Based on a report from Associated Press, the 400-feet-tall Starship rocket blasted off on Oct. 13 at sunrise near the Mexican border. The rocket arced over the Gulf of Mexico, following a similar pattern as the four previous Starships that ended up being destroyed. Though, this Starship did not share that fate.

Upon returning to launch base, the rocket was successfully caught by the launch tower’s metal arms, dubbed chopsticks.

Chief Executive Officer and Chief Technology Officer of SpaceX, Elon Musk, said in an X post that the megarocket was designed with a booster that can go into reflight within an hour after its launch.

“The booster returns within ~5 minutes, so the remaining time is reloading propellant and placing a ship on top of the booster,” explained Musk.

Elon Musk has been known for his influence in the crypto sphere, despite not creating any official tokens himself. He has been an avid champion of Dogecoin, with the billionaire even supporting a space mission funded by the cryptocurrency Dogecoin that got delayed last year.

His brief posts on X have inspired double-digit gains for Bitcoin, Dogecoin, and SHIBA INU on multiple occasions.

On April 8, multiple deepfake videos of Musk scammed viewers into taking part in fake Space X giveaways on YouTube, disguised as live streams centered around the solar eclipse that was happening at that time.