US Bitcoin and Ether Exchange-Traded Funds (ETFs), which are US-based, saw an influx of funds on Tuesday after Federal Reserve Chairman Jerome Powell suggested that further rate reductions may be coming before the end of year.
Spot BitcoinBTCETFs have seen a $102.58m net inflow, which is a rebound from the $326m outflow that occurred a few days earlier. according Data from SoSoValue. Fidelity’s Wise Origin Bitcoin Fund FBTC led with $132.67 millions in new inflows. BlackRock’s iShares Bitcoin Trust IBIT posted a modest $30.79million outflow.
The total net asset value across all spot Bitcoin ETFs Total inflows reached $62.55 billion and represented 15.35 billion dollars, or 6.82%.
EtherETHThe list was topped by Fidelity’s Ethereum fund (FETH), which had $154.62 millions, followed closely by Grayscale’s Ethereum fund (GETH). Fidelity’s Ethereum fund (FETH), followed by Grayscale’s Ethereum fund () came in first with $154.62 millions.ETHBitwise’s Ethereum ETF ).ETHWThe two figures are $34,78 and $13,27 millions, respectively.
Related: US spot Bitcoin, Ether ETFs shed $755M after crypto market crash
Powell makes a hint at further rate cuts
Federal Reserve Chairman Jerome Powell indicated Tuesday that US central bank was nearing completion of its program to reduce the balance sheet and was preparing potential rate reductions as the labour market weakened.
Powell spoke at the National Association for Business Economics Conference. said Soon, the Fed will stop making its payments “quantitative tightening” Noting the reserves “somewhat above the level” Consistently with plenty of liquidity.
“An October rate cut will have markets taking flight, with crypto and ETFs seeing liquidity flow and sharper moves,” Vincent Liu is the chief investment officer at Kronos Research in Taiwan, and he spoke to Cointelegraph.
“Expect digital assets to feel the lift as capital seeks efficiency in a softer rate environment,” He added.
Related: Bitcoin ETFs maintain ‘Uptober’ momentum with $2.71B in weekly inflows
Crypto Products Resilient Despite Recent Crash
Cointelegraph has reported that crypto investments products have shown strong resilience in the face of market turmoil. recording $3.17 billion in inflows A major flash crash caused by renewed US-China tariff tensionsCoinShares says that.
CoinShares announced Monday that last week’s panic only led to $159 million of withdrawals. $20 billion in positions Liquidations were made across multiple exchanges. This resilience has helped to push the total amount of inflows by 2025 up to $48,7 billion. That is already more than last year.
“Easing US-China tariff tensions and a renewed debasement trade echoed in gold’s strength are fueling fresh demand for digital assets,” Liu noted.
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Source: cointelegraph.com
