Odaily Planet Daily reports that Wintermute released a report stating that the upcoming U.S. CPI data to be released on Wednesday will be crucial in determining whether this interest rate repricing can be sustained. Risk appetite in the cryptocurrency market has rebounded.
U.S. spot Bitcoin ETFs posted five consecutive days of net inflows, totaling $854 million—the strongest weekly performance since mid-April. Ethereum ETFs recorded their fifth consecutive week of net inflows, adding $245 million. BlackRock accounted for over 80% of the combined $1.1 billion in inflows. These capital inflows occurred amid relatively low trading volumes, suggesting a pattern more consistent with institutional planned allocations rather than aggressive momentum buying, and reversing the market narrative of the past two weeks that saw funds rotating out of Bitcoin. ETF demand is now being matched by other market supply. On the institutional front, Wells Fargo announced it will launch tokenized deposit services this fall, initially focusing on the USD-to-GBP corridor and operating on its own blockchain, joining JPMorgan and Citibank in moving settlement infrastructure onto the blockchain.
Meanwhile, the U.S. Senate Majority Leader filed a cloture motion for the CLARITY Act early Saturday morning; the bill will undergo a procedural vote on September 15 and requires support from at least seven non-Republican senators. Wintermute noted that the improvement in ETF inflows remains an early signal, and a single week’s performance is insufficient to confirm a structural shift, as the entire risk asset class has just been repriced following one piece of data. If the CPI data released on Wednesday exceeds expectations and pushes the probability of a September rate hike above 50%, the core logic supporting the current rally could rapidly change. Key recent catalysts include the CPI data on August 12, the PPI data on August 13, retail sales data on August 14, followed by the Jackson Hole symposium from August 27 to 29, and the cloture vote on the CLARITY Act on September 15. Until ETF inflows and digital asset treasury activity demonstrate sustainability for the remainder of the summer, caution is still warranted—even as markets increasingly operate under institutional trading conditions.