US-based spot bitcoin exchange-traded funds (ETFs) experienced a significant surge in inflows on Friday, marking their best day for inflows in nearly two months. This positive trend comes as investors anticipate a potential interest rate cut by the Federal Reserve next week.
According to data, US-based spot bitcoin ETFs logged a total net inflow of $263.1 million on Friday, surpassing the previous high of $485.9 million recorded on July 22. The overall inflow for the past week reached $403.8 million, rebounding from two consecutive weeks of net negative inflows.
One of the standout performers was Bitwise’s BITB, which recorded the third-largest inflow of $43.1 million. Bitwise CEO Hunter Horsley expressed optimism about the future of bitcoin and the cryptocurrency industry, citing the recent inflows as a positive sign.
