US Bitcoin and Ether ETFs rebound as Powell signals rate cuts
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US spot Bitcoin and Ether ETFs reversed course with fresh inflows after a wave of outflows following the recent market meltdown.
US spot Bitcoin and Ether exchange-traded funds (ETFs) saw inflows on Tuesday as Federal Reserve Chair Jerome Powell hinted further rate cuts may come before year-end.
Spot Bitcoin (BTC) ETFs saw $102.58 million in net inflows, rebounding from a $326 million outflow a day earlier, according to data from SoSoValue. Fidelity’s Wise Origin Bitcoin Fund (FBTC) led gains with $132.67 million in inflows, while BlackRock’s iShares Bitcoin Trust (IBIT) posted a modest outflow of $30.79 million.
Total net assets across all spot Bitcoin ETFs reached $153.55 billion, representing 6.82% of Bitcoin’s market cap, while cumulative inflows stood at $62.55 billion.
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