The U.S. spot bitcoin exchange-traded fund (ETF) saw its biggest inflows in nearly two months on Friday, but the market’s largest ETF didn’t see any inflows of its own.
On Friday, U.S.-based spot Bitcoin ETFs recorded their largest single-day net inflow since July 22, when they recorded a massive $485.9 million. Last week’s total inflow was $403.8 million, recovering from two weeks of net negative inflows.
BlackRock’s IBIT, currently the largest fund by assets under management (AUM), has seen $9.1 million in outflows over the past two weeks, with most days seeing no net trading activity. Instead, Friday’s inflows were led by Fidelity’s FBTC, which recorded $102.1 million, and Ark & 21Shares’ ARKB, which recorded $99.3 million.
Bitwise’s BITB recorded the third largest inflow with $43.1 million. “We are more optimistic than ever about the road ahead. Bitcoin Bitcoin
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The other four funds saw modest gains: Grayscale’s GBTC with $6.7 million, Franklin’s EZBC with $5.2 million, VanEck’s HODL with $5.1 million, and Valkyrie’s BRRR with $1.7 million, while the rest reported no significant inflows or outflows.
Bitcoin price is currently hovering around $60,000, and traders are expecting the Fed to cut rates next Wednesday, September 18. CME FedWatch currently predicts that there is an equal chance that the Fed will cut rates by 25 or 50 basis points. The rate has been unchanged for over a year since it was raised to its current target of 525-550 basis points on July 26, 2023.
Ether ETFs are seeing moderate inflows.
The U.S.-based spot ether ETF saw inflows of $1.52 million on Friday after two days of net outflows.
The $7.4 million outflow from Grayscale’s ETHE fund was offset by $5.21 million inflows into Bitwise’s ETHW and $3.7 million into BlackRock’s ETHA. The remaining US-based funds saw no significant inflows or outflows.
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According to The Block, it is currently up 2.3% over the last 24 hours. Ethereum price page.
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