US Bitcoin Spot ETF Sees Highest Daily Inflow in Two Months

The US Bitcoin (BTC) spot exchange-traded fund (ETF) has recorded its highest daily inflow in two months, with a significant surge in funds pouring into the market. This development has also led to a notable increase in the price of BTC, which has surpassed $65,000.

According to recent data, $365.7 million in funds flowed into 11 BTC spot ETFs listed in the United States, marking the largest net inflow since July 22 (USD 486 million). This influx of funds has been attributed to the US Federal Reserve’s recent decision to lower the base interest rate by 0.5 percentage points, sparking expectations for further interest rate cuts.

Additionally, the improvement in investment sentiment following China’s announcement of a large-scale economic stimulus package has also contributed to the increased inflow of funds into the BTC spot ETF. The top-performing ETFs in terms of net inflow include Ark Invest/21 Shares’ ETF (ARKB), Blackrock iShares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC), Bitwise Bitcoin ETF (BITB), and Van Eck Bitcoin ETF (HODL).

As a result of this increased investment, the price of BTC has also experienced a significant surge. At one point, the price of BTC on CoinMarketCap exceeded $65,000, marking a two-month high. As of the latest update, BTC was traded at $65,500, representing a 21.41% increase from the beginning of the month.