#Bitcoin❗ ETFs See $250M Net Inflows, Highest Since July, Following Rate Cut Hints at Jackson Hole
On Friday, U.S.-listed spot Bitcoin ($BTC ) exchange-traded funds (ETFs) experienced a significant surge, with net inflows surpassing $252 million—the highest since July 23. This spike was fueled by optimistic remarks at the Jackson Hole symposium, which lifted sentiment across risk assets, including Bitcoin.
According to data from SoSoValue, trading volumes across the eleven Bitcoin ETFs soared to over $3.12 billion, marking the highest level since July 19. BlackRock’s IBIT led the pack, generating $1.2 billion in trading activity and attracting $83 million in net inflows.
Fidelity’s FBTC followed closely, bringing in $64 million, while Bitwise’s BITB saw $42 million in inflows, pushing its assets under management (AUM) past the $2 billion threshold for the first time. Conversely, Grayscale’s GBTC was the only product to experience net outflows, losing $35 million. However, its smaller Bitcoin fund, BTC, registered $50 million in net inflows.
Federal Reserve Chair Jerome Powell signaled an impending shift in monetary policy during his speech at the Jackson Hole symposium, leading Bitcoin to rally above $64,000.
“The time for policy adjustment has arrived,” Powell declared, noting that future rate cuts will be dictated by incoming data, evolving economic conditions, and risk assessments.
Crypto traders are now widely anticipating the Fed's first rate cut to be announced at its upcoming policy meeting on September 17.
Historically, tighter monetary policies tend to suppress risk appetite in financial markets, while lower interest rates enhance the appeal of assets like crypto by making capital more accessible to investors.
