Bitcoin ETFs Log $250M Net Inflows, Highest Since July, After Rate Cut Signal at Jackson Hole

U.S.-listed spot bitcoin ETFs experienced significant inflows of over $252 million, the highest since July 23, spurred by optimistic sentiment following comments from Federal Reserve Chair Jerome Powell at the Jackson Hole symposium. As market participants reacted positively, trading volumes surged above $3.12 billion, supported mainly by BlackRock's IBIT and Fidelity's FBTC, leading the charge even as Grayscale's GBTC faced outflows.

Federal Reserve Chair Jerome Powell highlighted the need for policy adjustments, stating, "The time has come for policy to adjust. The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks." These remarks significantly influenced trading behavior in the bitcoin market, with expectations of a rate cut boosting prices.

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