How did moses come to be raised by pharaohs daughter?

According to the Biblical text, she didn't know.

Another perspective:Exodus 2:5, 6 - Then the daughter of Pharaoh came down to bathe at the river. And her maidens walked along the riverside; and when she saw the ark among the reeds, she sent her maid to get it. And when she had opened it, she saw the child, and behold, the baby wept. So she had compassion on him, and said, "This is one of the Hebrews' children." [NKJV]

Two strong possibilities come to mind. One: the king of Egypt had ordered that all male Hebrew children be killed (Exodus 1:16), and this child had apparently been hidden/abandoned. There would be no reason for an Egyptian male child to be hidden among the reeds of a riverbank. Two: discernible differences in the physical characteristics of Egyptians and Hebrews.