Ethereum

United

Bitcoin

Spot

Spot Bitcoin exchange-traded funds in the United States have been seeing increased investor confidence as the cumulative net inflows reach a new all-time high. 
According to <a href="https://farside.co.uk/btc/" target="_blank" rel="">data</a> provided by Farside Investors, spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) ETFs recorded a net inflow of $202.6 million on Aug. 26. The total net inflows in the investment products surpassed the $18 billion mark. 
The COO of Bitget Wallet Alvin Kan told crypto.news that “investors are likely turning to more stable assets.” 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “The trend reflects investors’ confidence in Bitcoin, which will help drive the price of Bitcoin and the stability of the market in the longer run.” <cite>Alvin Kan, the COO of Bitget Wallet, talking on spot BTC ETFs’ inflows.</cite>
</blockquote> 
Notably, most of the inflows, worth $224.1 million, came from BlackRock’s IBIT. Per Farside Investors, Franklin Templeton’s EZBC and WisdomTree’s BTCW recorded $5.5 million and $5.1 million in inflows, respectively. 
On the other hand, Bitwise’s BITB, Fidelity’s FBTC and VanEck’s HODL funds saw $16.6 million, $8.3 million and $7.2 million in outflows. The remaining spot BTC ETFs stayed neutral. 
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Despite the increasing inflows into spot Bitcoin products, the asset’s price declined by 1.3% in the past 24 hours and is trading at $63,000 at the time of writing.&nbsp; 
The COO of <a href="https://crypto.news/bitget-wallet-fully-integrates-ton-mainnet-swaps/" target="_blank" rel="noreferrer noopener">Bitget Wallet</a>, formerly known as BitKeep, believes that BTC’s bullish momentum majorly depends on the U.S. Federal Reserve’s rate cuts. This could also help the market to become “fully active,” he added. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “In the short term, the Federal Reserve’s announcement of potential rate cuts could lead to increased market liquidity, a shift in investor behavior towards riskier assets, and potential volatility due to ongoing geopolitical tensions.”&nbsp; <cite>Alvin Kan, the COO of Bitget Wallet, told crypto.news.</cite>
</blockquote> 
While Bitcoin <a href="https://crypto.news/microstrategy-etf-accumulates-127m-in-assets-100m-daily-volume/" target="_blank" rel="noreferrer noopener">ETFs</a> have been thriving, spot Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) ETFs in the U.S. saw their eighth consecutive day of net outflows yesterday. Per data from Farside Investors, these <a href="https://crypto.news/crypto-investment-products-saw-largest-inflows-in-five-weeks-coinshares-says/" target="_blank" rel="noreferrer noopener">investment products</a> registered $13.2 million in net outflows, coming from ETHE, FETH and EZET. 
Ethereum slipped by 1.7% over the past day and is currently changing hands around the $2,700 mark. 
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Spot BTC ETFs surpass $18b amid increased investor confidence

crypto.news

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