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Kriptoteka > Market > ETFs > US Investors’ Moves During Fed Rate-Cut Week: A Review
ETFs

US Investors’ Moves During Fed Rate-Cut Week: A Review

marcel.mihalic@gmail.com
Last updated: September 21, 2024 3:16 pm
By marcel.mihalic@gmail.com 3 Min Read
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Contents
BTC ETFs Witness InflowsEthereum ETFs Show Signs of Positive Momentum

This past week was significant for financial markets and the global economy, as the central bank of the world’s largest economy shifted its monetary policy and lowered the key interest rates by 0.5%.

In light of this, it’s essential to examine how local investors reacted regarding their interactions with spot Bitcoin and Ethereum ETFs.

BTC ETFs Witness Inflows

CryptoPotato reported on Wednesday that US investors embarked on a buying spree for spot Bitcoin ETFs. During the four trading days leading up to the FOMC meeting, there were net inflows of just over $500 million into the 11 financial vehicles.

However, their behavior shifted on the day of the rate cuts, resulting in $52.7 million in net outflows. Nevertheless, investors reversed their course once again on Thursday and Friday, seeing net inflows of $158.3 million and $92 million, respectively.

On a weekly basis, this indicates that withdrawals only occurred on Wednesday. Overall, the total net inflows for the week reached $397.2 million.

Notably, the past few weeks have highlighted a lack of genuine interest in the largest Bitcoin ETF – BlackRock’s IBIT. Since August 26, it has recorded only one day of positive flows on September 15. There have been two days of net outflows during this timeframe, while all other trading days reported no significant activity, according to FarSide.

Conversely, Fidelity’s FBTC garnered remarkable amounts on September 17 ($56.6 million), September 19 ($49.9 million), and September 20 ($26.1 million). Ark Invest’s ARKB and Bitwise’s BITB have also experienced substantial flows over the past few weeks.

Ethereum ETFs Show Signs of Positive Momentum

The spot Ethereum ETFs have struggled to garner investor interest during their two months of trading on US exchanges. Nonetheless, there have been minor positive indicators in recent days.

FarSide reports two consecutive days of net inflows – $5.2 million on Thursday and $2.9 million on Friday. However, these figures remain relatively insignificant, and the overall weekly total is still negative.

The net outflows were $9.4 million on Monday, $15.1 million on Tuesday, and $9.8 million on Wednesday. Consequently, the week’s rate cuts by the Fed concluded with $26.2 million in net outflows for the Ethereum ETFs.

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