Welcome to Extreme Investor Network, where we bring you the latest and most insightful information on the Stock Market, trading, and Wall Street. Today, we have some exciting updates to share with you regarding the US BTC-spot ETF market and the potential impact of Fed interest rate decisions.
According to the CME FedWatch Tool, the probability of the Fed leaving interest rates unchanged in September fell from 42.6% to 32.6% in the week ending May 3. This shift in probability had a noticeable influence on the US BTC-spot ETF market, which saw net inflows of $378.3 million for the first time in eight sessions.
In particular, Grayscale Bitcoin Trust (GBTC) experienced net inflows of $63 million, marking the first time since the launch of the BTC-spot ETF market on January 11. Farside Investors reported that nine out of eleven issuers recorded net inflows on Friday, with Fidelity Wise Origin Bitcoin Fund (FBTC) leading the pack with net inflows of $102.6 million.
Looking ahead, the US economic calendar will remain a focal point for investors. Data on jobless claims and Michigan Consumer Sentiment figures could impact investor expectations of a September Fed rate cut. A more dovish Fed rate path may drive demand for BTC-spot ETFs and BTC.
However, it’s important to note that FOMC member speeches could play a significant role in shaping price trends moving forward. Investors should pay attention to discussions on inflation, the economic outlook, and the timing for a Fed interest rate cut. While the recent Jobs Report has fueled expectations of a September rate cut, concerns about inflation continue to linger.
Stay tuned to Extreme Investor Network for more updates and analysis on the Stock Market and trading landscape. Remember, when it comes to making informed investment decisions, knowledge is power.
