Bitcoin and Ethereum Rise on ETF Inflows

Bitcoin opened at $81,271.92 on Friday, its highest level since May 12, after comments from Fed Governor Chris Waller suggested policymakers could hold rates steady later this month. That helped trigger bitcoin’s biggest ETF inflow in nine months. The latest numbers point to another round of institutional allocation, with about $216.7 million flowing into bitcoin funds, led by the big names investors already know, including BlackRock’s iShares Bitcoin Trust and Fidelity’s FBTC.

Ethereum joined the move, opening at $2,507.70 and climbing above $2,520 in early trading. It has lagged bitcoin at times, but it is still benefiting from the same macro tailwind: if rates stay steady and the dollar eases, risk appetite usually improves. That is especially important for crypto, where valuations are still driven less by cash flow and more by faith in adoption, scarcity and future utility.

The bigger story for investors is that the crypto market is showing signs of becoming more durable. Bitcoin is still down 27.3% from a year ago, and ethereum remains 43.6% lower, so this is not a straight-line comeback. But both assets have rallied sharply over the past month, and bitcoin’s 50-day moving average has turned up decisively above its 200-day moving average, a sign that momentum has improved in conventional technical terms.

For the ETF providers, the inflow is a welcome reversal after a rough stretch earlier this year, when U.S. spot bitcoin products saw heavy redemptions. For Strategy, Coinbase and other crypto-linked names, a stronger bitcoin tape can improve sentiment, trading activity and paper gains. For the broader market, it is another data point showing that investors are willing to add exposure to hard assets when they think the Fed may be nearing a pause.

Still, the next catalyst is macro, not crypto. Friday’s August jobs report and next week’s inflation data will shape whether the market expects steady rates or another policy surprise. If growth stays modest and inflation cooperates, bitcoin could keep grinding higher on the back of ETF demand. If the data runs hot, the rally could cool quickly, as it has so many times before.

For investors with a multi-year horizon, the message is simple: bitcoin’s long-term case improves when institutions keep buying through ETFs and central banks stop tightening the screws. Ethereum’s path is similar, though more dependent on actual network use and the next phase of crypto adoption. Both remain volatile, but for patient investors, the combination of stronger inflows and a friendlier rate outlook makes them worth keeping on the watchlist.