"Wall Street invests $1 billion in Bitcoin ETFs over the past 3 days"

JOON HYOUNG LEE

Summary

U.S. Wall Street reportedly invested over $1 billion in Bitcoin spot ETFs in the past three days.
It was stated that more than half of this investment was concentrated shortly after headlines about President Trump possibly replacing the Fed Chair early.
As expectations of a rate cut emerge, demand for non-yielding assets such as stocks and cryptocurrencies is increasing along with the Dollar Index weakening.

Recently, U.S. Wall Street has invested more than $1 billion in U.S. Bitcoin (BTC) spot exchange-traded funds (ETFs) over the past three days.

Cointelegraph reported on the 26th (local time), citing Glassnode data, that "as of the 25th, $1.04 billion (about ₩1.4 trillion) worth of Bitcoin flowed into spot Bitcoin ETFs." Cointelegraph added, "More than half of this week's ETF inflows were concentrated on the 25th," and "this came immediately after reports emerged that U.S. President Donald Trump could replace Fed Chair Jerome Powell as early as September this year."

The market is watching for the possibility of a rate cut in September. Cointelegraph noted, "News of President Trump’s possible early replacement of the Fed Chair triggered a selloff in the dollar, sending the Dollar Index (DXY) to its lowest point since April 2022," and "Rate cuts tend to weaken demand for the dollar and increase demand for non-yielding assets such as stocks and cryptocurrencies."

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