US Spot Bitcoin ETF Sees Massive $31M Net Inflow Amid Global Rate Hikes

The US spot Bitcoin ETF has experienced a significant surge in investment, with a net inflow of $31 million recorded on September 29. This influx of funds is a notable development for the crypto market.

According to monitoring data from Farside Investors, the $31 million net inflow is a substantial amount, indicating increased investor interest in the US spot Bitcoin ETF. The Reserve Bank of Australia's decision to raise interest rates by 25 basis points to 4.6% on the same day may have contributed to this trend.

The 100-basis-point increase in interest rates this year aims to curb inflation caused by the Middle East conflict, but its impact on the US spot Bitcoin ETF remains unclear. Meanwhile, Japan's 40-year government bond auction saw its strongest demand in six years, with high yields attracting investors back to the country's longest-term debt instrument.