Spot Bitcoin Exchange-Traded Funds (ETFs) in the United States have been witnessing increased investor confidence, with cumulative net inflows reaching a new all-time high.

According to data provided by Farside Investors, spot Bitcoin ETFs recorded a net inflow of $202.6 million on Aug. 26. The total net inflows in these investment products have surpassed the $18 billion mark.

Alvin Kan, the COO of Bitget Wallet, stated that “investors are likely turning to more stable assets.” He added, “The trend reflects investors’ confidence in Bitcoin, which will help drive the price of Bitcoin and the stability of the market in the longer run.”

“The trend reflects investors’ confidence in Bitcoin, which will help drive the price of Bitcoin and the stability of the market in the longer run.”

Notably, most of the inflows, worth $224.1 million, came from BlackRock’s IBIT. Franklin Templeton’s EZBC and WisdomTree’s BTCW recorded $5.5 million and $5.1 million in inflows, respectively. On the other hand, Bitwise’s BITB, Fidelity’s FBTC, and VanEck’s HODL funds saw outflows of $16.6 million, $8.3 million, and $7.2 million, respectively. The remaining spot BTC ETFs stayed neutral.

Despite the increasing inflows into spot Bitcoin products, the asset’s price declined by 1.3% in the past 24 hours and is trading at $63,000 at the time of writing.

The COO of Bitget Wallet, formerly known as BitKeep, believes that BTC’s bullish momentum largely depends on the U.S. Federal Reserve’s rate cuts. He mentioned that this could also help the market become “fully active.”

“In the short term, the Federal Reserve’s announcement of potential rate cuts could lead to increased market liquidity, a shift in investor behavior towards riskier assets, and potential volatility due to ongoing geopolitical tensions.”

While Bitcoin ETFs have been thriving, spot Ethereum ETFs in the U.S. saw their eighth consecutive day of net outflows yesterday. According to Farside Investors, these investment products registered $13.2 million in net outflows, coming from ETHE, FETH, and EZET. Ethereum slipped by 1.7% over the past day and is currently trading around the $2,700 mark.

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