Cryptocurrency ETFs Surge Higher as Fed's Waller Signals Dovish Stance, Bitcoin Approaches $82K

Stock News
2 hours ago

Cryptocurrency exchange-traded funds are posting broad gains, with notable strength across multiple Hong Kong-listed products.

Bosera Ethereum (03009) has climbed 4.85% to HK$19.02, while ChinaAMC Bitcoin (03042) advanced 4.29% to HK$9.835. Harvest Bitcoin (03439) rose 4.16% to HK$9.88, and ChinaAMC Ethereum (03046) gained 3.95% to HK$5.92.

On the macro front, Federal Reserve Governor Christopher Waller stated Thursday that he would be open to maintaining the current interest rate level if inflation continues to show signs of easing. He noted that recent data finally points to some cooling in price pressures, though inflation remains clearly above the Fed's 2% target.

According to the CME FedWatch tool, following Waller's remarks, market-implied odds of a September rate cut dropped to 50%, down from 63.2% a day earlier. As monetary policy pressure eased, Bitcoin quickly surged, briefly breaking above the $82,000 level.

Adding to the bullish sentiment, Strategy resumed its Bitcoin purchases last week after a 10-week hiatus, returning to its signature accumulation strategy. Meanwhile, US-listed spot Bitcoin ETFs recorded approximately $3.5 billion in net inflows during August, marking the largest monthly influx in over a year, with Bitcoin gaining around 25% over the same period.

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