U.S.-listed spot bitcoin (BTC) exchange-traded funds (ETFs) experienced a significant uptick, registering over $252 million in net inflows on Friday, the highest since July 23. This surge came in the wake of optimistic signals from the Jackson Hole symposium, which bolstered risk assets, including bitcoin.

Trading volumes for the eleven prominent ETFs surged, surpassing $3.12 billion—their peak since July 19—according to data from SoSoValue. Leading the charge, BlackRock’s IBIT dominated trading activity with a staggering $1.2 billion in trades and $83 million in inflows.

Fidelity’s FBTC followed closely, attracting $64 million in inflows, while Bitwise’s BITB garnered $42 million, pushing its assets under management (AUM) past the $2 billion milestone for the first time. On the flip side, Grayscale’s GBTC was the sole product to record net outflows, losing $35 million. However, its smaller bitcoin fund, BTC, remained in positive territory, securing $50 million in inflows.

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The rally in bitcoin prices, propelling the cryptocurrency above $64,000, coincided with Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole symposium. Powell signaled a potential easing of monetary policy, marking a pivotal moment for the markets.

“The time has come for policy to adjust,” Powell asserted during his address. “The direction is evident, and the timing and pace of rate reductions will hinge on incoming data, evolving economic conditions, and a careful assessment of risks.”

Crypto traders are now bracing for the Federal Reserve’s next policy meeting on September 17, widely anticipating the first rate cut. Historically, tighter monetary policies have curbed risk appetite in financial markets, while lower rates tend to enhance the appeal of asset classes like cryptocurrencies, as investors gain more accessible entry to capital.