US Bitcoin ETFs See Largest Net Inflow Since January
US Bitcoin exchange-traded funds (ETFs) saw their largest net inflow since mid-January, totaling $730.9 million on Thursday.
The influx was largely driven by BlackRock's IBIT, which attracted roughly $454 million in new investments.
This marks the largest single-day net inflow for US Bitcoin ETFs since January 14 and comes after a strong month in August, during which they saw a total of $3.5 billion in investments.
Rachael Lucas, crypto analyst at BTC Markets, attributed this influx to institutional investors accumulating more Bitcoin, citing Federal Reserve Governor Christopher Waller's earlier comment as a key macroeconomic catalyst.
Waller's statement suggested that the Fed would hold rates steady if inflation continues to cool, sending growth stocks and cryptocurrencies like Bitcoin rising.