The Bitcoin and Ether ETF funds of the United States recover as Powell signals interest rate cuts

The Bitcoin and Ether ETF funds in the United States have reversed trends with new inflows after a wave of capital outflows following the recent market crisis.

The Bitcoin and Ether exchange-traded funds (ETFs) in the United States saw an influx of cash on Tuesday when Federal Reserve Chairman Jerome Powell indicated that there may be further interest rate cuts before the end of the year.

According to data from SoSoValue, the ETFs recorded a net inflow of $102.58 million, recovering after outflows of $326 million the day before. Fidelity's Wise Origin Bitcoin Fund (FBTC) led the increase with an inflow of $132.67 million, while BlackRock's iShares Bitcoin Trust (IBIT) recorded a modest outflow of $30.79 million.

The total net assets across all spot Bitcoin ETFs reached $153.55 billion, accounting for 6.82% of Bitcoin's market capitalization, while cumulative inflows totaled $62.55 billion.