US spot Bitcoin ETFs pulled in roughly $1 billion this week, their strongest inflow stretch since April. BlackRock's iShares Bitcoin Trust led the surge with $757.5 million, and the streak began right after a Coldcard hardware wallet exploit rattled the self-custody crowd.
US spot Bitcoin ETFs posted their strongest week of inflows since April, pulling in roughly $1 billion. BlackRock's iShares Bitcoin Trust, IBIT, accounted for $757.5 million of that total over a rolling seven-day window, doing most of the heavy lifting.
Daily inflows reverse a rough start
The week didn't start well: on July 31, Bitcoin ETFs collectively bled $212.7 million in net outflows. Then the flows reversed hard: August 3 brought $170.1 million, the next day added $207.8 million, August 5 saw $241.6 million pour in, and August 6 added another $99.4 million.
That net result landed between $620 million and $790 million depending on the tracker, though the broader weekly figure including surrounding days approached the $1 billion mark.
A hardware wallet hack reignites the custody debate
The inflow streak began right after a firmware vulnerability struck the Coldcard hardware wallet, one of the crypto industry's most respected self-custody devices. The exploit drained between $114 million and $130 million in Bitcoin from over 5,200 wallets.
Analysts caution against drawing a straight line between the hack and the ETF inflows. Still, when the supposedly safest self-custody option gets compromised, regulated ETFs with institutional-grade custody from firms like Coinbase and Fidelity start looking more appealing to investors who were on the fence.
BlackRock's growing dominance
IBIT's dominance isn't new, but the scale stands out: a $128.3 million single-day inflow was part of its seven-day haul, making the fund function less like a single product and more like market infrastructure. Fidelity's FBTC, Bitwise's BITB, and other funds keep attracting capital, though they increasingly compete over a smaller slice of the flows.
Source: Crypto Briefing
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