Wall Street Titans Boost Crypto Stakes: US Bitcoin ETFs Garner $2.4B In Q2 Inflows
The latest US Consumer Price Index (CPI) report showing a 2.9% year-over-year increase has calmed market concerns and reinforced expectations of impending Fed rate cuts. The crypto market remains range-bound, with Bitcoin unable to break through the $61,000 level. Ethereum's gas prices have slumped, but spot Ethereum ETFs in the US have seen inflows. Institutional adoption of crypto is growing, with notable new holders such as Goldman Sachs and Morgan Stanley. Despite Bitcoin's price decline, ETFs saw net inflows of $2.4 billion, indicating sustained interest in crypto from new pools of capital. The upcoming Jackson Hole Economic Symposium is expected to test market dynamics and shape the trajectory of crypto markets. BTC is currently trading at $59,679.
