Bitcoin spot ETFs see $853M inflows, highest since April, led by BlackRock's IBIT fund.
Bitcoin exchange-traded funds (ETFs) listed in the U.S. attracted $853.54 million in net inflows for the week ending August 7, marking the largest weekly inflow since mid-April. BlackRock's IBIT ETF accounted for the majority of this surge, drawing $693 million alone. This inflow suggests renewed institutional interest after significant selling earlier in the year, supported by stable Bitcoin prices around $64,000-$65,100 and a weaker U.S. jobs report that may reduce expectations for further Federal Reserve rate hikes. However, despite this positive weekly inflow, Bitcoin ETFs remain down about $4.5 billion year-to-date, indicating that sustained strong inflows are needed for a meaningful price rally. Investors will be watching the upcoming U.S. CPI data on August 12, which could influence future ETF inflows and Bitcoin's price direction.
Bitcoin exchange-traded funds (ETFs) listed in the U.S. attracted $853.54 million in net inflows for the week ending August 7, marking the largest weekly inflow since mid-April. BlackRock's IBIT ETF accounted for the majority of this surge, drawing $693 million alone. This inflow suggests renewed institutional interest after significant selling earlier in the year, supported by stable Bitcoin prices around $64,000-$65,100 and a weaker U.S. jobs report that may reduce expectations for further Federal Reserve rate hikes. However, despite this positive weekly inflow, Bitcoin ETFs remain down about $4.5 billion year-to-date, indicating that sustained strong inflows are needed for a meaningful price rally. Investors will be watching the upcoming U.S. CPI data on August 12, which could influence future ETF inflows and Bitcoin's price direction.
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