US-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) saw net inflows jump by over $252 million on Friday, reaching the highest level since July 23.
Bitcoin ETFs See Highest Net Inflow Since July After Jackson Hole Rate Cut Signal
The increase came after optimistic signals from the Federal Reserve’s Jackson Hole symposium, where Federal Reserve Chairman Jerome Powell hinted at a potential shift toward looser monetary policy and boosted risk assets including Bitcoin.
According to SoSoValue data, trading volume across eleven spot Bitcoin ETFs exceeded $3.12 billion, reaching the highest level since July 19.
BlackRock’s IBIT was the standout performer, leading both trading activity and inflows with $1.2 billion in volume and $83 million in net inflows.
Fidelity’s FBTC followed closely with $64 million in inflows, while Bitwise’s BITB added $42 million, taking its assets under management (AUM) past the $2 billion milestone for the first time.
On the other hand, Grayscale’s GBTC was the only fund to experience an outflow, losing $35 million, but its mini Bitcoin fund BTC recorded positive inflows of $50 million.
The positive atmosphere was supported by Powell's statements at the symposium, in which he stated that the FED was preparing to ease its monetary stance.
“It’s time for policy to adapt,” Powell said, adding that the pace and timing of rate cuts would depend on future economic data and risk assessments.
Crypto investors are now predicting that the Federal Reserve will make its first rate cut at its next policy meeting on September 17.
Traditionally, tighter monetary policies have tended to suppress risk appetite in financial markets, while lower rates make asset classes like cryptocurrencies more attractive due to easier access to capital.
*This is not investment advice.
