Spot BTC ETFs surpass $18b amid increased investor confidence

Investor confidence in spot Bitcoin exchange-traded funds in the US is rising as cumulative net inflows hit an all-time high.

According to data from Farside Investors, spot Bitcoin (BTC) ETFs recorded net inflows of $202.6 million on Aug. 26. Total net inflows across investment products exceeded $18 billion.

Bitget Wallet COO Alvin Kan told crypto.news that “investors are likely moving towards more stable assets.”

“This trend reflects investors’ confidence in Bitcoin, which will help increase Bitcoin’s price and market stability in the long run.”

Bitget Wallet COO Alvin Kan talks about spot BTC ETF inflows.

Notably, most of the inflows worth $224.1 million came from BlackRock’s IBIT. According to Farside Investors, Franklin Templeton’s EZBC and WisdomTree’s BTCW recorded inflows of $5.5 million and $5.1 million respectively.

Meanwhile, Bitwise’s BITB, Fidelity’s FBTC, and VanEck’s HODL funds saw outflows of $16.6 million, $8.3 million, and $7.2 million, respectively. The remaining spot BTC ETFs remained neutral.

Despite the increased inflows into spot Bitcoin products, the asset’s price has fallen by 1.3% in the last 24 hours and is trading at $63,000 at press time.

The COO of Bitget Wallet (formerly BitKeep) believes that BTC’s bullish momentum is largely due to the US Federal Reserve’s interest rate cuts, which he added could also help the market become “fully active.”

“In the short term, the Fed’s announcement of a potential rate cut could lead to increased market liquidity, investor behavior shifting toward riskier assets, and potential volatility due to ongoing geopolitical tensions.”

Bitget Wallet COO Alvin Kan told crypto.news:

While Bitcoin ETFs are surging, spot Ethereum (ETH) ETFs in the US saw their eighth consecutive day of net outflows yesterday. According to data from Farside Investors, these investment products recorded net outflows of $13.2 million from ETHE, FETH and EZET.

Ethereum has lost 1.7 percent of its value in the past day and is currently changing hands around $2,700.