ETFs Soar Amid Easing Monetary Pressures

Cryptocurrency exchange-traded funds (ETFs) saw broad gains across the market. The Bosera Ethereum ETF (03009) led the pack, surging 4.85% to HK$19.02. ChinaAMC Bitcoin ETF (03042) also performed well, rising 4.29% to HK$9.835.

Harvest Bitcoin ETF (03439) and ChinaAMC Ethereum ETF (03046) followed suit, climbing 4.16% to HK$9.88 and 3.95% to HK$5.92 respectively. These gains come as Federal Reserve Governor Christopher Waller stated his support for keeping interest rates unchanged if inflation continues to ease.

Waller noted that recent data indicates inflation is 'finally showing some signs of cooling,' although it remains above the Fed's 2% target. As a result, the market-implied probability of a Fed rate hike in September dropped to 50%, down from 63.2% previously.