Bitcoin Above $95K as Spot BTC ETFs Score Largest Inflow Since October

Summary

US spot bitcoin ETFs recorded their largest daily inflow since October, with $753.7 million on Tuesday. Analysts attributed the buying to institutions finishing year-end rebalancing and rotating back into risk assets, helped by cooling inflation and Fed rate-cut hopes. Bitcoin moved back toward $95,000 and Ether jumped 6% as its ETFs saw increased demand. Washington's crypto policy agenda and Ripple's European expansion were also in focus.

• US spot bitcoin ETFs saw $753.7 million in daily inflows, the largest since October.
• Fidelity led the inflows with $351 million.
• Analysts cited year-end rebalancing and a rotation back into risk assets.
• Cooling inflation raised hopes for Fed rate cuts later this year.
• Bitcoin moved toward $95,000 and Ether rose 6% with stronger ETF demand.
• The Senate Banking Committee faced more than 75 amendments to a crypto market structure bill.
• Ripple obtained preliminary Luxembourg E-money approval for EU passporting.
• XRP traded above $2.15 after Ripple's recent UK approvals.